Popular crypto analyst Michaël van de Poppe thinks altcoins will display a wide range of responses to the market’s current price momentum.
Van de Poppe tells his 578,600 Twitter followers that proof-of-stake blockchain Cardano (ADA) is taking liquidity and working upwards into resistance.
The dealer says the Ethereum (ETH) competitor would possibly proceed to maneuver up in direction of the $1.45 price vary, however he cautions that he “wouldn’t chase a long here.”
ADA is buying and selling at $1.19 at time of writing.
Van de Poppe additionally thinks the native token of one other ETH competitor, Fantom (FTM), may very well be about to scrape up towards resistance.
“This one is showing strength now too after sweeping the lows for liquidity. Looking to see whether we can chase the resistance at $1.50 and that’s going to be a heavy one. Until then we can have some momentum upwards.”
FTM is buying and selling at $1.40 at time of writing.
Van de Poppe urges warning with high-throughput blockchain Zilliqa (ZIL).
Last week, ZIL surged from round $0.049 all the way in which to a excessive of greater than $0.118. The 87th-ranked crypto asset by market cap is buying and selling at $0.102392 at time of writing.
“Wouldn’t really chase any trade here, wouldn’t short it either until confirmation. For some trades, first level I’d be looking at is the $0.08 region.”
Conversely, Van de Poppe thinks MANA, the native asset for digital actuality platform Decentraland, may very well be on the verge of breaking out.
“This one is slowly waking up here. Fighting resistance, but if it breaks that, liquidity pops up and we could see a continuation of 35% towards $3.75.”
MANA is buying and selling for $2.69 at time of writing.
The analyst additionally sees potential positive factors on the horizon for RUNE, the native asset for decentralized change protocol THORChain.
“This one is continuing to show strength. Minimal correction should lead towards further upwards momentum as it’s currently fighting resistance. Looking at $9.30 to hold. If we break upwards, then $13-14 might be possible.”
RUNE is buying and selling for $11.99 at time of writing.
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