27 October 2021
Michaël van de Poppe, the famous Cryptocurrency analyst, predicts Cardano’s path forward in the wake of Bitcoin rallying to a new 90-day high above $55,000.
As per a new strategy session, Van de Poppe highlights the potential entry points for Cardano on the USD chart and said that he believes the Crypto asset is close to a bottom.
Adding further, the analyst asserted that “If you want to buy Cardano at this point, I think you want to be looking at anywhere in this range here, aggressive in the area around $2.45. And also, if we dip towards $1.75, that’s an entry point.”
As per CoinGecko, presently, Cardano is trading at $2.27. Moreover, the crypto analyst adds that he expects Cardano to continue climbing higher and approach its all-time high at $3.10.
Continuing further, he added, “So what are we going to expect at this point? I’m assuming that we’re going to have a grind back up with Cardano against USDT for a little bit towards this all-time high region just like we have been seeing in November 2020, in which we ground back up toward the all-time high region before we started to accelerate heavily.”
Eyeing at Cardano against Bitcoin (ADA/BTC), the analyst outlines and indicates how the pair can restart its uptrend.
Emphasizing his believes, he concluded, “We are making lower highs, lower lows… if we break above the area of 0.0000464 BTC ($2.50), that is the level that you should be looking at, and then we’re going to have a new impulse wave.”
Nevertheless, if bulls fail to push above 0.0000464 BTC, the analyst claims that the pair could drop between 0.00003785 BTC ($2.04) and 0.000032 BTC ($1.72).
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.