dailyhodl.com
A widely followed crypto analyst is warning that Ethereum (ETH) rival Cardano (ADA) could suddenly plummet due to one main factor.
In a new video update, crypto strategist Benjamin Cowen tells his 857,000 YouTube subscribers that if bad US economic data comes out, ADA may collapse to much lower levels.
However, he says if the unemployment or inflation rate hovers within expectations, ADA may repeat a historic pattern and move above its local top of about $1.20.
“My guess is in the short term [ADA] still might show some weakness down here. Obviously, if you get a really bad data point like the employment rate skyrockets or the inflation skyrockets, you would likely get a larger sell-off by ADA. But as long as that doesn’t happen, then there’s still a decent chance that it’s just repeating essentially what it did the last couple of years.”
He also warns that ADA may be repeating a similar pattern from one year ago and may dip more than 20% from its current value before rallying.
“It’s likely a repeat of what happened right here [in January 2024]. And what’s interesting is it happened at the exact same time, more or less. This spike by ADA/USD last year was about January 10th or so. This spike [in 2025] was January 7th, and you can see that it was, in fact, a lower high as compared to the first top for the year.
And so if this continues to play out the same way, which there is no guarantee, it’s still possible that ADA/USD sort of sweeps these lows over here [between $0.75 and $0.85].”
ADA is trading for $0.95 at time of writing, down 2.6% in the last 24 hours.
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