{"id":2789,"date":"2023-12-11T02:34:27","date_gmt":"2023-12-11T02:34:27","guid":{"rendered":"https:\/\/solanacrypto.news\/2023\/12\/11\/alarming-solana-price-prediction-based-on-cardano-price-history-shared-by-top-analyst\/"},"modified":"2023-12-11T02:34:27","modified_gmt":"2023-12-11T02:34:27","slug":"alarming-solana-price-prediction-based-on-cardano-price-history-shared-by-top-analyst","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2023\/12\/11\/alarming-solana-price-prediction-based-on-cardano-price-history-shared-by-top-analyst\/","title":{"rendered":"Alarming Solana Price Prediction Based on Cardano Price History Shared by Top Analyst"},"content":{"rendered":"

\n
\n
\n <\/p>\n
\n

<\/p>\n

\"\"<\/div>\n


\n <\/p>\n

<\/p>\n

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Renowned analyst within crypto circles\u00a0Benjamin Cowen<\/a>\u00a0has drawn intriguing parallels between the recent price movements of Solana (SOL) and the historical trajectory of Cardano (ADA). This revelation comes in handy as the crypto community is abuzz with speculation about the potential implications for SOL\u2019s future.<\/p>\n

Cowen\u2019s astute observations point to a striking resemblance between the current SOL price<\/a> action and ADA\u2019s price behavior during the previous cycle. Notably, SOL has faced a hurdle at the $28 mark, akin to Cardano\u2019s struggle with the $0.11 zone in the latter half of 2019. Based on this pattern, Cowen\u2019s assessment suggests that Solana<\/a> might experience a dip, potentially descending below the $10 mark in the near term.
Good chance $SOL<\/a> sweeps the lows, just like $ADA<\/a> did last cycle. pic.twitter.com\/KHJEPdV6qU<\/a>
Comparing historical outcomes, ADA\u2019s price eventually rebounded following its dip, surging by an impressive 11.295%. This rebound led Cardano<\/a> to reach an all-time high of $3.1 per token, indicating the potential for substantial gains after a period of consolidation.
However, it is important to emphasize that while historical parallels can offer valuable insights, they do not guarantee identical outcomes. SOL\u2019s journey could deviate from ADA\u2019s path. Market dynamics, technological developments and external influences are among the myriad factors that could sway Solana\u2019s trajectory in unexpected ways.<\/p>\n

It is crucial to note that such insights do not serve as a definitive prediction but rather a plausible scenario based on historical patterns. The correlation he presents underscores the potential for SOL to undergo a price evolution akin to ADA<\/a>, albeit not necessarily in its entirety.
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master\u2019s program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.<\/p>\n

source<\/a><\/p>\n

<\/p>\n

<\/p>\n

<\/p>\n

<\/p><\/div>\n


\n
\n <\/p>\n