Benjamin Cowen Explains Bitcoin (BTC)’s Slight Pri

The Cardano (ADA) price saw an upswing during the past week and could soon reach new heights. On-chart data suggests that the crypto is now in an opportunity zone and could shoot up, reclaiming price targets from the previous pattern. Bitcoin (BTC) fell under the $43,000 range but could soon recover and climb even further, a momentum that could send ripples down the entire altcoin space. Pullix (PLX) is in its presale stage and is already making significant progress. We will review the on-chart performance for all three to see which is the best DeFi crypto.
Cardano (ADA) to Rise Above $0.8 by the End of 2024
Cardano (ADA) initially fell by 13.4% during the past 14 days before recovering throughout the previous week. The crypto surged from $0.49 to $0.61 and then found support at $0.53. The price point enables the Cardano crypto to retain an attempt at reclaiming the target rally. If the tides turn south, the bearish cues could dominate the Cardano price action.
However, coinciding with the 50-day EMA, if ADA does pass this level, it could validate the bullish outlook and lead to further surges in value. ADA holders kept themselves focused and held over 5.79 billion ADA. The MVRV ratio is also signaling potential bullishness, and according to the Cardano price prediction, it can rise to $0.8860 by the end of 2024.
Bitcoin (BTC) to Experience Further Correction Before Rising According to Benjamin Cowen
Bitcoin (BTC)’s price went down after spot ETFs got approved. The prices kept going down and went a bit under the $43,000 range. Benjamin Cowen, an expert on the Bitcoin crypto, shared thoughts on where the crypto market might be heading. Cowen explained that he looks at certain lines on the chart to figure out what might happen next. One line is called the 20-week Simple Moving Average, and the other is the 21-week Exponential Moving Average.
The lines suggest that the Bitcoin price might face a challenge around the $36,000 mark. Cowen also pointed out that historically, around the middle of January, BTC tends to go through a correction phase. It’s important to keep an eye on a level of around $42,000. He also talked about the possibility of a slow rise in the price followed by a dip. According to the Bitcoin price prediction, it can end Q4 of 2024 at a value of $60,482.51.

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