Michaël van de Poppe shared his updated forecast for Cardano (ADA) and XRP and shared altcoins that can be bought while the market is down.
Crypto analyst, in the youtube video published yesterday; He says that Cardano has reached key price levels and crossed the $1.90 – $2.10 range.
“I assume Cardano is pretty close to bottoming at this point, at which point we can expect new impulse waves to form.”
Examining Cardano’s Bitcoin parity (ADA/BTC), Van de Poppe claims that as a result of his assessment, Cardano can reach new heights.
“I predict we will see a small consolidation similar to what we saw in April. There is a slight consolidation here until we break the resistance, but if we get over it; Here I believe Cardano will run to all-time highs or new heights.”
The trader also predicts that a critical level reached by XRP could indicate a bullish signal for the crypto market.
“If you are waiting for the right moment to enter the market, chances are, we have finally hit bottom and I think we are ready for the next wave of impulses in the market.
What is the breakout level for XRP? The area around $1.05 is the area that needs to be broken. I don’t think we can do it in one go, but once we break this area, I think all cryptocurrencies will exit.”
The analyst, who follows the market closely, observes that the decline offers a good opportunity to enter the market. Identifying three altcoins to buy during the decline, Poppe thinks Avalanche (AVAX), Solana (SOL) and Phantom (FTM) will provide returns.
“Should you be concerned with the markets as support levels are approaching and projects are falling by about 35 percent to 45 percent? Of course yes.
As you approach the support level, people start to think quite negatively and expect more downside momentum. This is the best opportunity to enter the markets.”
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.