Crypto Analyst Van de Poppe Updates The Outlook For ADA, FTM, ZIL, MANA, RUNE
A leading crypto market analyst and trader, Michaël van de Poppe looks into various altcoins, and projects how the altcoin market will react to Bitcoin’s recent momentum.
Cardano (ADA)
The analyst shared with his 579.2K followers on Twitter Ethereum rival Cardano (ADA) is likely to face resistance at $1.45 level, but is not convincing enough for him to take a long position.
“Tricky one. Taking liquidity and running upwards here into resistance. Might continue towards $1.45, but wouldn’t chase a long here.”
At the time of writing, ADA is trades at $1.20, up 8.8% on the weekly chart.
Fantom (FTM)
Next up is layer 1 smart contract platform Fantom (FTM). According to the analyst, FTM looks strong, but clearing resistance at $1.50 is the next hurdle to overcome.
“FTM still ready to tackle the resistance around $1.50”
Looking into Zilliqa (ZIL), van de Poppe is hesitant to take a position right now. ZIL soared last week from around $0.049 to $0.118 more than doubling its value. A level of interest would be at $0.08 area.
“This one has made a massive move, obviously. Wouldn’t really chase any trade here, wouldn’t short it either until confirmation. For some trades, first level I’d be looking at is the $0.08 region.”
At the time of writing, ZIL trades at $0.18, up a whopping 270% on the weekly chart.
Decentraland (MANA)
The analyst next turn his focus on virtual reality platform Decentraland (MANA). Looking into the chart, van de Poppe projects that MANA could be closing in towards a breaking out.
“This one is slowly waking up here. Fighting resistance, but if it breaks that, liquidity pops up and we could see a continuation of 35% towards $3.75.”
At the time of writing, MANA trades at $2.70, up 6.2% on the weekly.
THORChain (RUNE)
The last altcoin on the list, van de Poppe looks into THORChain (RUNE), and notes that it is likely to keep climbing towards resistance at $14.50-$15 level.
“I think we’re going to see a continuation towards $14.50-15 on RUNE here.”
