Popular crypto analyst Michael van de PoppeHe reviewed the situation of Bitcoin, Ethereum and Cardano and warned crypto traders chasing Ethereum (ETH).
with 470,000 followers twitter van de Poppe, who shared his analysis on his account, is a smart contract platform. Cardano (ADA) shared important levels for According to the analyst, he thinks Cardano’s previous peak in March could turn into ADA’s support line as ADA’s relative strength index (RSI) “resets completely”.
It has set a critical price level of around $2.23 that ADA must surpass before it can start another “sustainable” rally. Although ADA is trading at $1.98 at the time the analyst sets this level, the current price of ADA is $2.01 at the moment.
Ethereum (ETH) The analyst, who also updated his views on the issue, stated that he has been closely following the recent growth of the leading smart contract platform. According to Van de Poppe, ETH could face a corrective move “relatively soon” and due to this risk ETH traders warns.
Analyst: “At this point, I am definitely not going to pursue a trade. I would chase other potential opportunities to scale in a shorter timeframe and wait a bit, or check to see if other altcoins look “interesting.”
According to CoinGecko Ethereum (ETH), is down 0.3% in the last 24 hours and continues to trade at $4541 at the time of writing.
Van de Poppe, the largest cryptocurrency by market cap Bitcoin (BTC) He also spoke about:
“We are still stuck above the critical level, between $59,000 and $56,000… We haven’t gotten very far from this level, but I still think it’s very important to keep the support within ranges.”
The analyst has marked “significant levels” for BTC.
“The critical level here is the area around $61,5000. If this holds, we can continue to attack the high ranges again, otherwise I expect a retest for Bitcoin (BTC) at $58,000.”
Bitcoin (BTC) It is currently trading at $62,178.
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.