A widely followed crypto analyst updates his view on the leading altcoin. Famous analyst Michael van de Poppe cited important levels for altcoins such as Cardano (ADA), Avalanche (AVAX), Zilliqa (ZIL), Fantom (FTM). Here are the details…
Analyst expects these levels for altcoin projects ADA, AVAX
Crypto trader Michaël van de Poppe told his 618,000 Twitter followers that Cardano (ADA) is currently facing resistance. On the other hand, he drew attention to a resistance level for Avalanche. Van de Poppe used the following expressions:
It looks strong here, but in resistance. If we surpass it, I assume we will see $0.67 in the next step. However, I would like to search long term, preferably around $0.48. We’re still looking at such a scenario as the entire market is facing resistance at this point (at least a little overextended). The same goes for AVAX.
The trader tells his followers that the high-throughput Blockchain Zilliqa (ZIL) will likely see a decline. According to the analyst, the person looking for a drop is playing around $0.0375 here. It is potentially looking for $0.041 for a new possible trade. This could be a trade towards $0.052. ZIL is trading at $0.041 at the time of writing. The analyst then looks at the Ethereum (ETH) layer-2 scaling solution Polygon (MATIC). It predicts a significant drop from MATIC’s current price of $0.92.
MATIC. For long positions, I would be looking at regions around $0.73. We mentioned earlier that it was overextended around $1.
What to expect for Phantom?
Looking at the Layer 1 Blockchain Phantom (FTM), the widely followed analyst expects the current correction of FTM to continue. “After a big push, there is usually a significant correction. The same goes for FTM. It’s an important run and momentum is up. But during such momentum, corrections take place. Now longing zones are generally found and playable.”
FTM is trading at $0.33 at the time of writing. Finally, Van de Poppe took over king crypto Bitcoin (BTC), citing the mid-low $22,000 region as a potential area for BTC longs. “A potential long-term area is also approaching in Bitcoin,” he added. BTC is trading at $23,029 at the time of writing.
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