Top Crypto Analyst Benjamin Cowen Warns of Potential Crash for Ethereum Rival Solana
Crypto analyst Benjamin Cowen is cautioning his followers about the possibility of Solana (SOL) experiencing a significant decline, similar to what Cardano (ADA) went through in the previous cycle. Cowen believes that Solana is at risk of losing key support levels, which could result in a more than 50% drop to $10.
Key Points:
- Cowen warns that Solana could plummet like Cardano did in the last cycle.
- Cardano fell from $0.10 to $0.028 between May 2019 and May 2020.
- Cowen suggests Bitcoin may form a double bottom pattern and return to the $13,000-$14,000 range before an upward move in early 2024.
- Another possibility Cowen mentions is Bitcoin declining to the $16,000-$17,000 range before heading to $24,000 in April.
- The analyst believes Litecoin will not rally until after Bitcoin’s halving in April 2024 and will likely underperform Bitcoin even when it does rise.
Cowen’s insights provide a valuable perspective on the potential market movements of Solana, Bitcoin, and Litecoin. It’s crucial for crypto readers to stay informed about these possibilities to make well-informed investment decisions.
Hot Take:
Benjamin Cowen’s analysis serves as a reminder that the crypto market is highly volatile and unpredictable. While his predictions should be taken into consideration, it’s important for readers to do their own research and exercise caution when making investment choices.
By
By
By
By
By