A widely followed crypto analyst, Bitcoin (BTC) and says its two Ethereum (ETH) rivals are ready for relief rallies.
Trader Michaël van de Poppe told his 613,300 Twitter followers that BTC is poised for a recovery of around 10% from current levels. told.
“Bitcoin ready for $23,000.”
At the time of writing, Bitcoin is trading at $20.995, up 3.2% from 24 hours ago.
The crypto trader then shared his predictions for a pair of Ethereum rivals, revealing that he expects a bounce for both.
Koinfinans.com As we reported, Van de Poppe first revealed his target for Cardano (ADA), the eighth largest crypto by market capitalization. While Cardano is currently trading at $0.50, the analyst predicts a 20% increase.
“ADA failed to break through resistance in one go and retested the lower bounds of a support zone.
It bounced off that area and is currently struggling with resistance, I expect a breakout to continue with $0.60.”
The analyst then evaluated the smart contract platform Fantom (FTM). Van de Poppe says that ETH competitor Avalanche (AVAX) is pointing to the upward move for ETH layer-2 scaling solution Polygon (MATIC) FTM.
“A good scalping for a long position in FTM targeting the $0.32 range can be (quick profit making with instant buy and sell trades). There was a good resistance-support conversion and the markets look ready to continue. Of course it depends on BTC, but movements on AVAX and MATIC point to a continuation of the signal.”
You can check the price movements here.
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.