Michaël van de Poppe, a crypto analyst who is widely followed by the community, tracks three popular altcoins and shares potential entry points and price targets for those altcoins.
Koinfinans.com As we reported, Trader has 612,700 Twitter followers on the popular proof-of-stake blockchain. Cardano (ADA) He said that it is facing an important test of just over $0.50, and if it passes, ADA could go up to $0.63.
“It looks solid and ready to explode if it can clear the $0.507 – $0.51 area.
If I wanted to long, a hard rejection here and a test around $0.46 would be an interesting scenario.
Otherwise, a return result of $0.51; It could move towards $0.535/$0.63/$0.63.”
At the time of writing, Cardano is changing hands at $0.49, below the analyst’s noted level and up nearly 2 percent in the last 24 hours.
chainlink
Next on the analyst’s list is the decentralized oracle network Chainlink (LINK) exists. Poppe says that if falling market prices point to a higher low (HL), he will look for an opportunity to enter this altcoin over a long period of time.
“I’m not interested in going long on this until I flip the gray area and/or $8.
Generally, if the markets are correcting and waiting for an HL to occur, I will look for a confirmation of a potential long entry and then your graph I’ll wait for it to play towards $8 and/or $9.25.
Chainlink is trading in the green, up over 4% at an asking price of $7.35 per day.
Verasity
The latest token on the investor’s radar, the next-generation video sharing protocol Verasity (VRA). Van de Poppe suggests a possible metric, where a lower low appears on the cryptocurrency’s price chart but the corresponding indicator shows a higher low. bullish divergenceHe says he’s paying attention to .
This indicates that the bears are losing strength and the bulls are ready to re-control the market, usually a bullish divergence marks the end of the downtrend.
“It is experiencing heavy correction as it has dropped more than 90 percent.
Here is a bullish divergenceThere is a higher time frame support zone where .
This could mean we are experiencing a short-term rebound.
Target: $0.01.”
Verasity, which has experienced a 2 percent increase in the last 24 hours, is trading at $ 0.0058 at the time of writing. VRA, which was valued at more than $0.08 last November, has since fallen steadily following the market.
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.