Michaël van de Poppe Looks Into ETH & ADA, And Updates His Targets

A top crypto market strategist, Michaël van de Poppe draws potential next steps for the leading smart contract platform Ethereum (ETH) and its rival Cardano (ADA).

Ethereum (ETH)

The analyst shared in a recent video update, with his 164K subscribers on YouTube that Ethereum looks to be on a path to hit resistance at $3,500 after making the first higher high in four months. 

Despite the latest uptick, Van de Poppe alerts that ETH could face a correction if it doesn’t manage to break through resistance at $3,500.

“What you clearly want to see is that we start to gain strength so that we start to accelerate even more instead of this crawling upwards. In that case, I think we can start taking those highs too and if we clearly are not going to see continuations of strength at that point in time, I’m looking to actually take my profit on Ether too and then I’m expecting ourselves to have a retest.”

At time of writing, ETH is trading at $3,283, up 4.5% on the daily time frame.

Cardano (ADA)

Looking next into Cardano, the analyst likewise projects ADA to rise in the short-term, but then correcting down below $1 level.

“It seems very likely that we’re going to sweep the highs here ($1.30) as that’s the resistance point, have a bearish divergence and then have a corrective move back towards $0.95 as people are still eager to take the profits from the positions that they have been building up. In that sense, I would not be expecting a continuation yet…We’re going to find ourselves a re-test of the low or potentially a higher low before we can start continuing.”

At time of writing, ADA trades at $1.19, up 3.4% on the daily window.