Van de Poppe Looks Into Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA)
Michaël van de Poppe, a prominent cryptocurrency analyst and pro-trader looks into top 3 cryptos: Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA), and draws key price levels to follow.
Bitcoin (BTC)
In a recent video, the analyst shares with his 127K YouTube subscribers that the leading crypto asset recently reclaimed a key price level, which suggests that Bitcoin is getting ready for a new rally.
“Yesterday, we’ve had a beautiful retest, so price broke back above the range ($47,000-$50,000), and we’ve actually retested the levels that I wanted ($47,000), and that’s very normal to be having at this stage in which we get some consolidation going on the Bitcoin markets…
So for me, this entire region between $46,000-$47,000 is very crucial to watch, through which as long as we stay above it, we could be seeing continuation towards the range highs, which is $50,000, and then I am assuming we are going to get some sideways action, through which altcoins will be doing absolutely great. And once we break above $50,000, I think Bitcoin will be grinding all the way back up towards a new all-time high.”
Ethereum (ETH)
Regarding the second largest digital asset, Ethereum (ETH), Van de Poppe identifies an important support level that ETH should hold, in order to move up towards new highs.
“This is the level I’m looking at, which is very similar to the Bitcoin level between $46,000-$47,000. If this holds and we see we are reversing the trend at this stage with Ethereum, I think we are going to have continuation towards the range high, which is around $3,840 towards 4,000.”
Van de Poppe looks also ETH against its Bitcoin paying, saying that Ethereum has been trading sideways below the 0.077 BTC level. According to the analyst, ETH/BTC should find support at 0.072 BTC level to move to new highs.
“So the critical level for Ethereum to watch is this entire region that we have around 0.072 BTC ($3,394), and if that holds I think we’re going to have new highs relatively soon.”
The traders has positive expectations for Cardano (ADA), regardless of less impressive performance for the past 7 days or so. He predicts further upside ahead, now that smart contracts were successfully brought to the mainnet, and as long as ADA remains above $1.90 support level.
“As long as Cardano is going to stay above that level of $1.90, I think it’s going to continue moving. Right now, it’s just finding a new equilibrium after the fact that we had the smart contracts launched, and that is usually going with a slight corrective move before we’re going to have a continuation.”
