Popular cryptocurrency analyst Michaël van de Poppe thinks altcoins will show various reactions to the market’s recent price momentum.
Van de Poppe says Cardano (ADA) has taken liquidity and moved to upward resistance. The trader says that the Ethereum (ETH) rival may continue to rise towards the $1.45 price range, but warns that “I won’t be chasing too much here.” ADA was trading at $1.19 at the time of writing.
Van de Poppe also thinks that another ETH competitor, Phantom (FTM), can gain momentum.
“This is now showing strength after sweeping bottoms for liquidity. We want to see if we can follow the resistance at $1.50 and that will be very heavy. Until then, we can find some upward momentum.”
FTM was trading at $1.42 at the time of writing.
Van de Poppe thinks MANA, the native presence of virtual reality platform Decentraland, may be on the brink of explosion.
“This is slowly waking up here. It is struggling with resistance, but if it breaks, liquidity emerges and we could see it continue up 35% towards $3.75.”
MANA was trading at $2.69 at the time of writing.
The analyst also sees potential gains on the horizon for RUNE, the native asset for decentralized exchange protocol THORChain.
“This continues to show strength. A minimal retracement should lead to more upside momentum as it is currently fighting resistance. He’s looking at $9.30 to hold. If we break up, $13-14 might be possible.”
RUNE is trading at $12.35 at the time of writing.
