Widely followed crypto analyst Michaël van de Poppe said markets are rebounding after a rough week.
Analyzing Bitcoin by market cap, Poppe predicts that it is possible for BTC to return to the $34,000 range soon. doing.
“Bitcoin has held the critical level, which is great.
It wants to see if it can continue above $29,700-30,000.
If it succeeds, a test of $32,700 and potentially $34,000 is possible.”
While giving a warning, the analyst also thinks a continuation for Bitcoin is likely.
“It also depends on the US markets, but it seems likely to continue here for Bitcoin.”
Van de Poppe also studied Dogecoin (DOGE), which has been on the decline with the rest of the crypto markets for weeks. The crypto analyst is of the opinion that the meme coin is finally ready to emerge.
“It’s time to rise for DOGE, too.”
Looking at Ethereum (ETH) rival Cardano (ADA), the analyst expects the falling altcoin to bounce back from its next support.
“ADA failed to hold at $0.68 and is currently down 87%.
The next support near $0.38-0.40 is the support that the markets are bouncing off.
The support before here is already doubled.”
Looking at Ethereum scaling solution Polygon (MATIC), the trader predicts that if BTC can hold $30,000, the altcoin will test the $1 range.
“If BTC reclaims $30,000, it wouldn’t be surprising if MATIC tests $1 in the coming days/weeks.
In the markets; We will always have opportunities. Percent gains and possibilities are endless at this point.”
Van de Poppe also looked at the protocol of the Phantom (FTM), a crypto asset that he thinks could nearly double in price before hitting any resistance.
“It looks like we’re seeing a relief rally in the markets at this point.
For FTM, it looks likely to continue at $0.68 before reaching the first real resistance.
As a result, volatility will remain high, but we are likely in a new period of accumulation.”
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.