Michaal van de Poppe, a prominent crypto trader and analyst; He determined the price levels to watch for Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA).
Van de Poppe revealed in a recent market assessment session that Bitcoin has recently reclaimed a significant price area and the largest cryptocurrency is gearing up for a new rally.
“Yesterday we did a nice retest where the price went above the range ($47,000-$50,000)… we retested the levels I wanted ($47,000) and that is perfectly normal at this stage of the Bitcoin market where we are experiencing some consolidation…
So for me, it’s very important to watch this entire region of $46,000-$47,000, because as long as we stay above that, I predict we can continue towards the $50,000 high ranges, then sideways for a while, altcoins are performing very well at this point. will show. And once we get above $50,000, I believe Bitcoin will continue to rise to its all-time high.”
Also reviewing Ethereum (ETH) charts, Van de Poppe says he wants to see the $3,400 level as support before ETH moves to new highs.
“I’m looking at the $3,400 level, which is very similar to the Bitcoin level between $46,000 and $47,000. If this holds and we see Ethereum reversing the trend at this stage, I believe we will continue towards the higher range of $3,840 to $4,000.”
The analyst states that ETH is consolidating below the 0.077 BTC level ($3,630) in the Bitcoin/Ethereum pair, and he expects the ETH/BTC pair to find support at 0.072 BTC ($3,394).
“The critical level for Ethereum to watch is this entire region where we have around 0.072 BTC ($3,394). If we can hold on to this level, I believe we will reach new heights relatively soon.”
Finally, Van de Poppe evaluated Cardano (ADA); Despite ADA’s poor performance last week, he states that after the launch of smart contracts on the platform’s blockchain, it will set a new level of support, after which ADA will experience a massive rise.
“I believe it will continue to rise as long as Cardano stays above the $1.90 level. Currently, smart contracts are trying to find a new balance after launching, which usually means that the price will experience a slight correction before resuming its action.”
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.