Michaël van de Poppe, one of the closely followed analysts and traders of the cryptocurrency world, shared his current analysis of the cryptocurrency world in a video he recently published. The famous analyst these three altcoin it will first dig to a support level towards the bottom and start a strong “bull market” starting from that level.
Poppe, in his newly shared analysis Ethereum (ETH), Cosmos (ATOM) and Cardano (ADA) shared his views on it. Noting the potential reversal points of Cardano (ADA), the analyst expects Ethereum (ETH) and Cosmos (ATOM) to continue the uptrend.
In the video he shared on his YouTube channel with 134,000 subscribers, he stated that Ethereum (ETH) would want to find support at the level of 0.0058 BTC (currently about $ 3267) before rising.
“If it’s going to bottom at some point, this area should clearly be the 0.0058 BTC level; clearly in this area, it should want to get rejected, come back and consolidate, and then move on again. We can expect an upward movement after this level, but we will see a bullish divergence in this structure.”
Regarding Cosmos (ATOM), the analyst thinks that a break above the 0.0007 BTC ($39.43) level could catch bullish momentum. But it won’t be surprising if we see ATOM take a dip before we pick up that momentum.
The analyst added that ATOM expects a correction between the 0.00043 BTC ($24.22) and 0.00047 BTC ($26.48) levels.
As for Cardano (ADA), ADA may be bearish because it has already captured a strong support level.
“To Bitcoin [ADA/BTC] against Cardano! We’ve also marked a few support levels, we’ve gotten there but haven’t seen a strong bounce yet. So we clearly want to get more confirmations in the markets before it gains serious momentum once again.”
The analyst has identified the 0.00003 BTC ($1.69) level as an “interest” for ADA.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.