dailyhodl.com
Crypto trader and analyst Michaël van de Poppe is looking at the potential future price action of Cardano (ADA) and five low-cap altcoins.
In a new tweet, the crypto strategist tells his 335,100 followers that he’s keeping a close watch on Cardano. Amid weakness in the broader crypto markets, the smart contract platform continues to flash bullish signals against Bitcoin (ADA/BTC).
“Still showing much strength and in a bull cycle. I’m expecting a bullish continuation towards the next region around 6,200 satoshis (0.000062). This would include further strength on the USD pair, too.”
At time of writing, ADA/BTC is trading at 0.000046, indicating a potential gain of over 34% if the pair hits the trader’s target next month.
Next up is SXP, the native asset of decentralized finance (DeFi) ecosystem Swipe. According to Van de Poppe, SXP is gearing up for a strong 86% rally before June expires from its current price of $1.94.
“This one is building up strength, too (especially the BTC pair). That BTC pair has to break above the 100-day and 200-day moving averages. If that happens, we’ll see this continuation here, and then we’re back to pre-crash levels.”
The third coin is Waves, a blockchain platform that allows users to create, launch and trade their own crypto tokens. According to Van de Poppe, Waves is ready to ignite a 35% move in its Bitcoin pair (WAVES/BTC) from its trading price of 0.00042.
“This one holds on to support and acting above the 100-day and 200-day moving averages. Therefore, I’m assuming we’ll see a retest of 0.00057.”
The fourth coin on Van de Poppe’s radar is Fantom (FTM), a distributed ledger technology that aims to power smart cities. The trader expects Fantom to dip against Bitcoin (FTM/BTC) before launching a 74% rally by July.
“Support test, now flipping for further continuation. Breaking above 1,000 satoshis (0.00001) would give 1,300 satoshis next (0.000013).”
Mobile data exchange crypto asset Dent is also on the trader’s list. He expects the coin to continue its base-building phase before meteorically rising over 287% from its current value of $0.031. Van de Poppe expects Dent to hit his target in August.
“So far, so good. This one is probably going to accumulate for some time, as it just had a giant impulse wave.”
Van de Poppe is also watching blockchain gaming platform Enjin Coin (ENJ). According to the trader, ENJ is ready to start a new bull cycle as he highlights key support areas of $1.29 and $0.67.