Popular cryptocurrency analyst Michaël van de Poppe spoke promisingly about Cardano and set its long-term target at $10.
In his latest statement, he stated that he believes the price of Cardano (ADA) has hit the bottom after falling to $ 1 and that a rally to $ 2 is approaching.
The analyst also stated that ADA has been on the rise with the launch of many new platforms on its Blockchain last month, adding that it has found significant support at the $ 1.2 level, adding that this support is very important.
ADA, which experienced a 40 percent increase in a short time like a week, is one of the most important factors that triggered this price movement, and the launch of the DeFi application is shown. Because, as it is known, this feature in the Cardano network has been trying to be brought to the system for a long time.
According to Poppe, investors who want to invest in ADA can buy at the time of a pullback, as shown in the chart.
People rushing into $ADA at this point, while it’s already running.
If I’d be interested, I’d wait for additional confirmation on lower levels or a retest there, as shown in the chart.
Full analysis:https://t.co/EKsbUiwLa9 pic.twitter.com/04zow2Hu6y
— Michaël van de Poppe (@CryptoMichNL) January 17, 2022
Looking at the last 7 days, it is seen that ADA is positively differentiated from its competitors. Because Ethereum, which is shown as its rival, has achieved an increase of 1.6 percent in the last 7 days, while this rate is 32 percent in Cardano.