Cryptocurrency analyst Michaël van de Poppe has commented on the potential buy prices for Ethereum (ETH) and Cardano (ADA) after the recent surge of smart contract platforms.
Van de Poppe said that Ethereum is now heading towards its next resistance at $3,500 after managing to hit the first four-month high.
Van de Poppe warned investors that Ethereum could correct if the leading smart contract platform fails to break the resistance at $3,500.
At the time of writing, Ethereum was trading at $3,146.
As for Cardano, Van de Poppe said that ADA rallied in the short term before making any significant corrective moves. Poppe said:
“It seems very likely that we will sweep the highs here as this resistance point is bearish and then we make a corrective move towards $0.95 as people are still willing to take profits from positions. In that sense, I don’t expect a continuation yet… We’ll find ourselves a retest for a lower or potentially higher bottom before we start moving on.”
At the time of writing, Cardano was changing hands for $1.13.
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