Thursday, June 17, 2021

Crypto Michael Analyzes Next Possible Price Target for Cardano (ADA), Ethereum (ETH), Algorand (ALGO)

Michaël van de Poppe, a top cryptocurrency analyst and trader, popularly known in the crypto space Crypto Michael, believes that Cardano (ADA), the 5th largest digital currency by market capitalization is gathering momentum to print new price highs.

He also predicted the resumption of the bull market for Ethereum (ETH), the second-largest crypto in the market, and Algorand (ALGO).

Cardano (ADA) Is Getting Ready To Print New Highs

In a new tweet, the top trader told his teeming followers that Cardano (ADA) in its Bitcoin (BTC) pair (ADA/BTC) has to hold key support of 0.00004 for the chance of breaching 0.00005 resistance to clear the way for 0.00006.

If ADA/BTC could move to 0.00006, it implies that a new 3-year high for the pair has been attained. Also, if the pair hits the target, it means it’s less than 50% from its all-time high of 0.00008788.

Crypto Michael tweeted, “Cardano is still fine here and eager for continuation towards new highs, as the critical levels are holding up for support.”

Ethereum (ETH) Is Poised To Break Its Next Resistance of $2,900

According to the analyst, Ethereum (ETH) is poised to break its immediate resistance of $2,900 for a likely surge to $3,500.

Crypto Michael wrote, “Ethereum looks strong here, in which we’re facing resistance. If that breaks, the next step is $3,300-$3,500. The critical support level to hold is the level at $2,675. If that’s lost, I’m seeing $2,300-$2,400 next.”

Michaël van de Poppe Is Positive on the Price Trend of Algorand (ALGO)

Michaël van de Poppe also has his eyes on the price trend of Algorand (ALGO). According to the crypto analyst, ALGO/BTC pair has been maintaining its stability above key technical indicators and is now targeting a 95% move from its current value of 0.00002818.

“Algorand is continuing the momentum here, as the bull cycle didn’t end for this one. Staying above the 100-Day and 200-Day MAs (moving averages) and therefore, eager for continuation to 3,800 (0.000038) and 5,500 sats (0.000055).”

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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