crypto analyst Michael van de Poppeannounced potential price paths for Ethereum (ETH) and Cardano (ADA) after the recent rise of smart contract platforms.
In a new video, Van de Poppe tells his 164,000 YouTube subscribers that Ethereum is now heading towards its next resistance at $3,500 after managing to hit its first four-month high. However, Van de Poppe warns that Ethereum will correct if the leading smart contract platform fails to break the resistance at $3,500.
“What you obviously want to see is that we start gaining strength so instead of creeping upwards we start to accelerate further. In that case, I think we can start to reach these higher levels, and if we don’t clearly see that the strength is continuing at that point, I would actually like to get my wife out of Ether and then wait to be retested again.”
While writing, Ethereum It is trading at $3,146.
As for Cardano, Van de Poppe said the ADA is recovering in the short term before making any significant corrective moves.
“Since it is the resistance point, it seems very likely that we will break the highs here ($1.30), take a bearish break and then make a corrective move towards $0.95 because people are still willing to take profits from these positions. In that sense, I don’t expect a continuation yet… We’ll find ourselves retesting a low (level) or potentially a higher low (a higher low than the previous low) before we start to move on.”
While writing, cardano It changes hands for $1.13.
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.