Michaël van de Poppe Draws Key Support Levels For BTC, ETH and ADA
Popular crypto analyst and trader Michaël van de Poppe is draws crucial price levels for Bitcoin, Ethereum and Cardano amid crypto markets signaling signs of strength.
The Dutch analyst tweets to his 348K followers that he expects Bitcoin to flip former resistance at $35,000 into support in order to maintain its up climb.
“Bitcoin clearly broke $35,000. Good news! Now, I’d like to see it hold as support in order to continue moving to $38,000.
Preferably even without a retest and just continuation towards those next levels.
Overall -> good signals on the markets.”
Ethereum (ETH), the leading smart contract platform, must regain key resistance at $2,200 for a possible leg up to $3,000, according to Van de Poppe.
“Ethereum showing some strength here in which it’s currently facing a critical resistance zone. Not an area I’d be looking for longs.
The aggressive play would be some short-term consolidation with support at $1,985-$2,015.
If that happens -> continuation towards a breakout.”
Talking about Cardano (ADA), it must breach its immediate resistance to spark a potential 36% rise, says the analyst.
“Cardano remains unchanged at this point as it’s still consolidating in a narrow range.
If it breaks above $1.37-1.41, the next zone around $1.60 seems to be next and potentially even $1.85.”
The trader sees the total market cap of all altcoins may be hitting a bottom around support of $600 billion.
“The total market capitalization of altcoins might be bottomed out here.
However, it has to break through a critical resistance of around $800 billion.
If that breaks, the altcoins market cap can run to $1 trillion again.”
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