Popular crypto analyst Benjamin Cowen recently took a look at the price action of the native assets of Cardano ($ADA), Ethereum ($ETH), Chainlink ($LINK), Polkadot ($DOT), and Avalanche ($AVAX).
In a video released on his YouTube channel on May 15, Cowen told viewers that Cardano could double in price after a big breakout against Bitcoin.
According to a report by The Daily Hodl, he said:
“The highest valuation that ADA has ever been against Bitcoin is over here (0.00008 in 2018). If we take a measured move from the current prices to that level, it’s another 105%… With the idea that ADA can go up 105% in terms of reaching its global top against Bitcoin for an invariant Bitcoin, where would that put ADA/USD? It would actually put it at a modest, at a very, very humble $4.35… We’re not saying it’s going to go there by any means… We’re just saying, ‘Hey, it’s done it before.’ And arguably, ADA has got a lot more going for it today than it did back in 2017, 2018.“
Cowen predicted Ethereum could climb as high as $6,000 before the end of its bull run:
“We have $2,000. We blasted past that. We have $3,000. We quite easily conquered that one. We have $4,000. We’re currently battling on and off with that one. Obviously, there’s $5,000 and $6,000 and so on and so forth… The understanding that I tried to tell you guys was not if it’s coming. It’s just a matter of how far inland are we going to go before we come back and recede at some point.”
Cowen was also bullish on Chainlink, saying $LINK’s trend has been upward since 2019:
“I love LINK. It just moves up. Over the macro scale, it tends to move up. Yes, it goes down sometimes. Who really cares? That’s just the game. It generally goes up and that’s what’s important. Don’t lose sight of the fact that Chainlink generally moves up.“
He rounded out his predictions by saying that $DOT had a good chance of breaking through its price barrier around the $50 mark. Cowen was also feeling good about $AVAX, saying it was on the “cusp of price discovery mode.”
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
