Van de Poppe Looks Into Cardano (ADA) – Best Entry Points Might Be Gone

Michaël van de Poppe, a popular cryptocurrency analyst and trader takes a look at the price action of Cardano (ADA), and analyses various entry levels.

Van de Poppe shared with his 130K YouTube subscribers that the best entry point for Cardano may be gone after the asset bounced off a key support level at $1.86.

“If you want to get into Cardano, this was the region where you would want to get into it, and the higher low that might be created.

So based on the daily timeframe, the best entry might be gone, but you’re still getting a better entry than the ones who have been buying around $2.80.”

The analyst is now keenly following the price movement to see if ADA can turn resistance at the $2.37 level into support.

In case that markets sunk further, the trader is looking at $2.15 level as a potential buy zone.

“When you’re looking at the four-hour time frame, I think you’re getting the exact same view as what you have right now on Bitcoin and [Ethereum], actually. So you’re going to look for an entry point which is around the fact of $2.15, so anything in this region might be a good entry point if we get a corrective move.”

The analyst predicts that that ADA against its Bitcoin pais ADA/BTC will most likely consolidate briefly after retesting support at its previous all-time high.

“We can see that we’ve had a beautiful retest of the previous high here too, and therefore some consolidation is most likely going to take place before we’re going to have new impulse waves.

So both the USDT and BTC pair are looking for continuation, and I think that’s just great, and I think that’s just what we want to see with the markets right now.”