Popular cryptocurrency analyst Poppe summarized the potential price action of Cardano (ADA), Fantom (FTM), Celer Network (CELR) and Verasity (VRA), noting that Bitcoin (BTC) will soon revisit its all-time high.
Analyst Michaël van de Poppe said he is optimistic about Bitcoin and expects the leading cryptocurrency to continue towards its all-time high of $64,000 as long as it stays above a key level.
“This point is about critical levels for Bitcoin… We had a nice break to the upside, so we are looking for a potential continuation if we stay above $55,000 to $55,500. If that happens, I assume the all-time high is just around the corner and that will be great.”
The crypto strategist looking at Cardano says that the smart contract platform will likely continue to take a hit against Bitcoin (ADA/BTC) before hitting a bottom.
“I wouldn’t be surprised if we make a corrective move towards 0.000031 BTC [$1.77] – 0.000032 BTC [$1.89]. Right now, you just want clear confirmation that a bottom is in.”
Based on Van de Poppe’s chart, he expects the ADA/BTC pair to reverse the downtrend once it reaches the support area on its way to start a rally towards 0.00006 BTC, which equals $3.43.
Next up is another smart contract platform at Fantom (FTM). In a separate video, Van de Poppe said he expects FTM to pull back before continuing its uptrend.
“If you want to trade anything on Phantom, you should look at the area around $1.68 to $1.48. If it gets there, it will give you the best opportunity. And then, if you want to look for a potential entry point, you use the previous high [and] the previous low. [The next target zone is around $3.35 and potentially even around $5.”
As for Celer Network, Van de Poppe says the layer 2 scaling platform is currently bearish against Bitcoin (CELR/BTC). It targets 0.000002 BTC ($0.11) as a potential entry point.
The last token on Trader’s list is Verasity, the next-generation video sharing protocol. Van de Poppe says he is also looking for a correction of the VRA so it can spark a potential rally above 80% from the entry point.
“This is the region you are looking at with a target zone of $0.08 [0.04].”