Here’s what’s next for Cardano, Avalanche, Cosmos, and Litecoin, according to analyst Michaël van de Poppe
A widely-regarded crypto strategist is planning what’s in store for a handful of digital assets amid uncertain market conditions.
Analyst Michaël van de Poppe is sharing with his 628,100 Twitter followers that he believes smart contract platform Cardano (ADA) is in an accumulation phase as it continues to trade above its key support level.
“The ultimate area to buy in is the $0.30 to $0.375 region. However, will we see it up front and people are already piling? In this case, [the] Breaking the downtrend is your long trigger.”
Source: Van de Poppe/Twitter
At the time of writing, ADA is trading at $0.45, unchanged on the day.
Van de Poppe is also eyeing Ethereum (ETH)’s Avalanche (AVAX) challenger in his Bitcoin (AVAX/BTC) pair. According to Van de Poppe, he wants the pair to trade above 0.00092 BTC ($17.91) to have a chance of moving towards his target.
“If we want to see a continuation of the markets here, I would rather see AVAX hold at 0.00092 BTC to make a higher low.
If that happens, we will most likely trigger longs and run to 0.001 BTC ($19.46).”
At the time of writing, the AVAX/BTC pair is valued at 0.0009 BTC ($17.52).
Next is Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. Van de Poppe says ATOM is showing “a ton of strength” and that he expects the coin to ignite its next tier up.
“Long should be at $13 and activated now. Based on a low timeframe, I would prefer to see $13.85 as support. Then I expect to see above $16 and hit highs.”
At the time of writing, ATOM is changing hands at $13.97, down 1.56% on the day.
The final coin on the list of traders is peer-to-peer payment network Litecoin (LTC) in its Bitcoin (LTC/BTC) pair. According to Van de Poppe, LTC/BTC is likely to start a fresh rally as long as it trades above 0.00266 BTC ($51.77).
“This one still follows the path. If BTC stays calm in the coming days, we will likely see continuation towards 0.0034 BTC ($66.18) as the long position has been activated.”
At the time of writing, the LTC/BTC pair is exchanging hands for 0.00276 BTC ($53.72).
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