Van de Poppe Looks Into Cardano (ADA) And Identifies Key Target Levels

According to a leading crypto analyst and trader, Michaël van de Poppe, smart contract platform Cardano (ADA) looks to be awakening from a months-long hibernation and showing signs of strength.

In a recent video, van de Poppe shared with the 162K subscribers to his YouTube channel that hype and positive sentiment around Cardano is “waking up again.”

“We can see that the momentum, or the actual hype around Cardano, is waking up again. So, what should you be looking at if you want to get into Cardano?”

The cryptocurrency analyst also draws the key price zones that ADA could find support at before moving to higher levels.

“I think it’s crucial that we have to break through that resistance zone (~$1.31) to have another trigger. So, the first one is looking at a potential long at this zone ($1.31). The second one is we flip this level ($1.55) and consolidate and get a trigger based there ($1.28). That is the second entry zone that you could be looking at.

And then we can start targeting a rally all the way towards $2.00 as the next target zone or potentially even towards $2.33 as that is the next target zone for Cardano.”

At the time of writing ADA is trading at $1.59, up 41.4% on the weekly chart. ADA has passed the analysts second flip zone at $1.55 and should have clear sky until $2.00 levels, should van de Poppe’s analysis hold.

Earlier this month, Cardano developer, Input Output Hong Kong (IOHK) announced plans to scale up the network during 2022. One of the main goals outlined was the addition of sidechains, which are separate blockchains connected to the main chain that allows for the transfer of assets in between them.

“Assets can be moved between chains as needed. One single parent chain can have multiple interoperable sidechains connected to it, which may operate in completely different ways.”