dailyhodl.com
Crypto trader and analyst Michaël van de Poppe is unveiling the price levels that he’s watching in Cardano (ADA) in preparation for the smart contract platform’s next bull run phase.
In a new video, the crypto strategist tells his 57,400 YouTube subscribers that ADA/USD must hold a key level in order to sustain its strong uptrend.
“Right now, we do get some critical levels that we have to hold in general for Cardano which is this entire region around $0.90. We got higher highs. We got higher lows. So this is currently ($1.10) the critical level to hold on to. This is the obvious one. If that is lost, we can still assume that $0.90 is the next level. But that should be the low.”
Looking at the BTC denomination, Van de Poppe says that ADA/BTC is still consolidating but it must hold a critical support area to ignite the next move up.
“As long as it stays above in this green zone (0.00001780), so we get an accumulation like this, it is ready for the next big move. As long as it does not break this level (0.00001780), the USD value will not drop to $0.70 or lower. So you should be seeking for those entry points that I’ve just mentioned for Cardano.”
Although both ADA/USD and ADA/BTC are still in the accumulation phase, Van de Poppe believes that both pairs could be headed to the stratosphere.
“Once it starts to run, I think it’s going to accelerate significantly and pull another 2x, 3x, 4x from here. And yes, the market is going to be way higher in this cycle than most of you are expecting.”
Before the current boom cycle expires, the crypto trader predicts that Cardano has the potential to skyrocket to $20, representing gains of over 1,500% from its price of $1.24.