Van de Poppe: ETH and ADA Waiting for One Signal To Break New Highs

Accroding to popular crypto trader and analyst Michaël van de Poppe, Ethereum (ETH) and Cardano (ADA) are waiting for one signal before launching into huge breakouts.

In a series of recent tweets, the analyst tells his 335K Twitter followers that regardless of the less-than-ideal look of the crypto markets, altcoins are still just in a consolidation phase against Bitcoin (BTC).

Van de Poppe says that once Bitcoin can finally find a bottom, Ethereum (ETH) and Cardano (ADA) will break through to new 2021 highs.

Still, #altcoins against $BTC are doing fine. Just consolidating.$ETH and $ADA are knocking the doors of the yearly highs and are eager to break through.

I think they will once #Bitcoin is bottomed.
— Michaël van de Poppe (@CryptoMichNL) June 8, 2021

“Still, altcoins against BTC are doing fine. Just consolidating. ETH and ADA are knocking on the doors of the yearly highs and are eager to breakthrough. I think they will once Bitcoin is bottomed.”

ADA/BTC is attempting to target a new yearly high somewhere in the 0.000062 area, which would represent potential gains of 34.7% from its current price of 0.000046, according to the trader.

“Cardano doesn’t care and is ready for new yearly highs on the Bitcoin pair.”

Van de Poppe also has his radar locked on another altcoin that has been showing signs of life. The trader says in a tweet that Tezos is finding support on crucial moving averages (MAs) against Bitcoin (XTZ/BTC) as it gears up for the next leg of its bull run.

“Tezos holds the 100-day and 200-day MAs here, which looks like we’re going to have a continuation of the bull cycle.”

The trader adds that sentiment in the broader crypto markets is looking significantly bleak. According to him though, this could be a bullish signal.

The sentiment is getting back to the funeral state.

Lovely!

Let's see how this sentiment is going to be in a month from now.
— Michaël van de Poppe (@CryptoMichNL) June 7, 2021