Ethereum

Cardano

Daily

Coin

<ul class="news-points"> 
 <li>Benjamin Cowen predicted that ADA may continue to lose strength in the coming weeks.</li> 
 <li>The analyst predicted that ADA/BTC could drop to 0.000004 if the negative trend continues.</li> 
 <li>Cowen revealed that a sustained break above the 20-week EMA line will confirm a bullish trend reversal for ADA.</li> 
</ul> 
The <a href="https://www.youtube.com/watch?v=fqE4pAw2t_A" target="_blank" rel="noopener noreferrer nofollow">trader and analyst Benjamin Cowen</a> predicted in his latest analysis for <a href="https://coinedition.com/tag/cardano-ada/" rel="noopener noreferrer nofollow">Cardano (ADA)</a> that the altcoin may continue to drop in the coming weeks. He revealed that his bearish outlook for the Ethereum-killer stems mainly from the fact that the total liquidity for the cryptocurrency market continues to decline. 
Should ADA’s current downtrend continue, Cowen forecasts that ADA/BTC could fall to as low as 400 satoshis (0.000004 BTC). On the other hand, he speculated that ADA’s BTC pairing may continue to consolidate between 800 to 1,200 satoshis in the coming weeks if there is not an overwhelming amount of sell pressure during this period. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
 <img decoding="async" width="1825" height="895" src="https://coinedition.com/wp-content/uploads/2023/07/Ada-11.png" alt="" class="wp-image-322957" srcset="https://coinedition.com/wp-content/uploads/2023/07/Ada-11.png 1825w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-300x147.png 300w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-313x153.png 313w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-380x186.png 380w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-768x377.png 768w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-1536x753.png 1536w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-696x341.png 696w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-127x62.png 127w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-159x78.png 159w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-255x125.png 255w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-795x390.png 795w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-440x216.png 440w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-414x203.png 414w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-326x160.png 326w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-377x185.png 377w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-328x161.png 328w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-144x71.png 144w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-123x60.png 123w, https://coinedition.com/wp-content/uploads/2023/07/Ada-11-129x63.png 129w" sizes="(max-width: 1825px) 100vw, 1825px"> 
 <figcaption class="wp-element-caption"> Daily chart for ADA/BTC (Source: <a href="https://www.tradingview.com/x/Juy2TvSl/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>) 
 </figcaption> 
 </figure> 
</div> 
Meanwhile, Cowen mentioned that ADA has continued to weaken against its biggest competitor Ethereum (ETH) in the past few weeks. The analyst shared that ADA/ETH has been in a downward tren… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/ada-may-continue-to-weaken-against-btc-eth-usd-analyst/">ADA May Continue to Weaken Against BTC, ETH, USD: Analyst</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

ADA May Continue to Weaken Against BTC, ETH, USD: Analyst

Coin Edition

Other articles published on Jul 24, 2023

Ryanair’s Q1 Profits Skyrocket Amid Boeing Delivery Delays

Litecoin Price Prediction: Bearish Momentum Rises in LTC Price

Bank of Japan Launches Discussions with 60 Companies for Digital Yen Pilot Program

CBDCs Under Fire from Republican Lawmaker

Crypto Market Swept by Worldcoin! Exchanges Queue for Listing, Price Soars!

Kommunitas x DeeLance Priority IKO Details

Join our free newsletter for daily crypto updates!