Crypto Analyst Van de Poppe Updates His Outlook On BTC, ETH, ADA And VET
A leading crypto analyst and trader Michaël van de Poppe looks into Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and VeChain (VET) and updates his outlook, amid the recent market wide downtrend.
Bitcoin (BTC)
Van de Poppe shares with his 551.4K Twitter followers that Bitcoin’s recent price movement is forming a “bullish divergence.”
“The lower timeframe on Bitcoin is creating a bullish divergence while being in massive support at $41K.
If it breaks $42.8-42.9K, a test of $46K is likely to happen and, then, the bullish divergence plays out.”
The lower timeframe on #Bitcoin is creating a bullish divergence while being in massive support at $41K.
If it breaks $42.8-42.9K, a test of $46K is likely to happen and, then, the bullish divergence plays out. pic.twitter.com/HFLWG1pjk2
At the time of writing, Ethereum trades at $3,201, below the analyst’s crucial resistance level.
Cardano (ADA)
Regarding the recent price movement of Cardano (ADA), Van de Poppe says that ADA is relying on support around $1.25, which is not the range for shorting the asset.
“Not much has changed on ADA.
Still on the lower bound of the range, which is heavy support.
Not the range to look for shorts, I’d rather look for longs.”
At the time of writing, ADA is trading at $1.22, below the trader’s crucial support level.
VeChain (VET)
Finally, Van de Poppe looks into the price action of enterprise solution blockchain VeChain (VET) against Bitcoin. He draws 0.00000150 BTC region as a support level for VET to retest before continuing bullish price moves.
“VET looks strong, but still needs to break above that level around 205-210 sats.
If that’s the case, bullish continuation is very, very likely.”
$VET looks strong, but still needs to break above that level around 205-210 sats.
