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Cardano

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Cardano's ADA token is facing an unexpectedly gloomy future, according to renowned crypto analyst&nbsp;<a href="https://twitter.com/intocryptoverse/status/1700923685836632272?s=20" rel="noopener noreferrer nofollow">Benjamin Cowen</a>. In a recent Twitter post, Cowen predicted a protracted "depression phase" for ADA, with the downward spiral commencing when ADA's price falls below $0.24. This bleak phase is anticipated to persist until the expected return of quantitative easing (QE), which Cowen speculates may occur sometime in 2024. 
Cowen, known for his astute insights in the cryptocurrency community, presented a comprehensive analysis supported by a revealing chart. According to his calculations,&nbsp;<a href="https://u.today/cardano-whales-dump-1-billion-tokens-whats-next-for-ada-price" rel="noopener noreferrer nofollow">Cardano</a>'s depression phase could span approximately nine months, extending into the summer of 2024. 
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 The depression phase for <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> begins below $0.24.The depression phrase will likely last until QE returns, probably sometime in 2024. <a href="https://t.co/mOvrwfhSv2" rel="noopener noreferrer nofollow">https://t.co/mOvrwfhSv2</a>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1700923685836632272?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 10, 2023</a> 
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This is not the first time Cowen has sounded the alarm for&nbsp;<a href="https://u.today/cardano-catalyst-being-heavily-manipulated-heres-how" rel="noopener noreferrer nofollow">ADA</a>. Earlier in September, he had hinted at ADA's impending downturn, asserting that the drop was not exclusive to the crypto sphere but a result of aggressive liquidity withdrawal. However, Cowen offered a glimmer of hope, emphasizing that liquidity would eventually return, rejuvenating the altcoin market. 
As of now,&nbsp;<a href="https://u.today/this-cardano-ada-resistance-level-is-extremely-important-heres-why" rel="noopener noreferrer nofollow">Cardano's ADA</a> is trading at $0.246 per token. Cowen's assessment suggests that the digital asset is already entrenched in the early stages of the predicted depression phase. This revelation has stirred discussions and concerns within the crypto community, as investors closely monitor ADA's performance, hoping for signs of recovery on the horizon.

Cardano Heads into Depression, As New ADA Price Prediction From Top Analyst Shows

U_Today

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