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Cardano has been making a lot of headlines lately due to all kinds of achievements, and the team behind the project continues to see massive success.
The predictions about the price of ADA are really optimistic as well.
It’s been just revealed that crypto trader and analyst Michaël van de Poppe revealed the price levels that he’s watching in Cardano (ADA) ahead of the smart contract platform’s next bull run phase.
ADA/USD must hold a key level to maintain the uptrend
In a new video, he said 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,” he said as cited by the online publication the Daily Hodl.
It’s also important to note the fact that regarding 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,” he said.
He said that both ADA/USD and ADA/BTC are still in the accumulation phase.
At the moment of writing this article, ADA is trading in the red and the coin is priced at $1.18. Stay tuned for more news.