By Solomon Odunayo
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.”
#Cardano is still fine here and eager for continuation towards new highs, as the critical levels are holding up for support. pic.twitter.com/BiDuTj7idr
— Michaël van de Poppe (@CryptoMichNL) June 4, 2021
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.”
#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. pic.twitter.com/GzTq1zJZdZ
— Michaël van de Poppe (@CryptoMichNL) June 3, 2021
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).”
#Algorand is continuing the momentum here, as the bull cycle didn't end for this one.
Staying above the 100-Day and 200-Day MA's and therefore eager for continuation to 3800 and 5500 sats. pic.twitter.com/bJLXtkh1M5
— Michaël van de Poppe (@CryptoMichNL) June 3, 2021
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