Popular analyst Michaël van de Poppe maps the price levels to watch for Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA).
In one Video Recently, Van de Poppe announced to its 127,000 YouTube subscribers that Bitcoin recently regained a key price zone, suggesting it is preparing for a new rally.
“Bitcoin had a nice breakout yesterday and the price returned to the $ 47,000 to $ 50,000 range.
So for me it is very important to observe this zone between $ 46,000 and $ 47,000. As long as Bitcoin holds above this, the price could remain at the top of the range at $ 50,000. Then I think Bitcoin will go sideways and Altcoins will do well again. As soon as Bitcoin crosses $ 50,000, I think it will move towards a new all-time high. “
BTC / USDT 4-hour chart | Source: Michael van de Poppe
Turning to Ethereum (ETH), Van de Poppe said he would like to hold USD 3,400 as support ahead of price as it approaches new highs.
“This is the level I look at, which is very similar to Bitcoin between $ 46,000 and $ 47,000. If this zone holds, I think ETH will move towards the recent highs of $ 3,840 to $ 4,000. “
ETH / USDT 4-hour chart | Source: Michael van de Poppe
As for the BTC pair, the analyst noted that ETH is consolidating below 0.077 BTC ($ 3,630) and can find support at 0.072 BTC ($ 3,394).
“So the most important level to watch at ETH / BTC is the 0.072 BTC ($ 3,394) area and if that’s true I think there will be a new ATH soon.”
ETH / BTC 4-hour chart | Source: Michael van de Poppe
Finally, Van de Poppe mentions Cardano (ADA). Despite Cardano’s lackluster performance over the past week, he expects further increases as a new level of support has been created following the introduction of the smart contract on the blockchain.
“As long as Cardano holds the $ 1.90 level, I think it will continue to rise. Currently the price is finding a new equilibrium after the introduction of the smart contract is priced in. A consolidation phase is great for setting new impulses. “
Daily ADA / USDT Chart | Source: Michael van de Poppe
Here you can see the altcoin prices.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to Dailyhodl