Thursday, June 17, 2021

Crypto Michael Maps Out When Cardano (ADA) Would Resume Its Bullish Rally

Michaël van de Poppe, a crypto trader and analyst popularly known on Twitter as Crypto Michael, has mapped out the possible future price action of Cardano (ADA), the fifth-largest cryptocurrency by market capitalization.

In a new tweet, the trader told his teeming followers that Cardano (ADA) is still in a bull cycle. According to Crypto Michael, amid weakness in the crypto market, the digital token ADA continues to showcase bullish signals against Bitcoin.

Read Also: Hoskinson Says Ethereum Is One of the Greatest Innovations; Vitalik Says Cardano Has Interesting Ideas

Michaël van de Poppe tweeted, “Still showing much strength and in a bull cycle. I’m expecting a bullish continuation towards the next region around 6,200 satoshis (0.000062). This would include further strength on the USD pair, too.”

At the time of filing this report, ADA/BTC is trading at 0.000046, which indicates a potential gain of over 34% if the trading pair attain Crypto Michael’s target next month.

Read Also: Crypto Michael Predicts Notable Surge in Price of Cardano (ADA) Ahead of Smart Contract Implementation

Cardano (ADA) Is Getting Ready To Print New Highs

Recall that Michaël van de Poppe had predicted a couple of days ago that Cardano (ADA) is getting ready to print new highs.

In a tweet on 4th June 2021, the trader told his followers that Cardano (ADA), in its Bitcoin (BTC) pair, has to hold key support of 0.00004 for the chance of breaching 0.00005 resistance, in order to clear the way for 0.00006.

He said if ADA/BTC could move to 0.00006, it implies that a new 3-year high for the pair has been attained. He added that if the pair hits the target, it means it’s less than 50% from its all-time high of 0. 00008788.

Read Also: Leading P2P Platform, Localbitcoins Now Accepts Cardano (ADA), Chainlink (LINK), Bitcoin Cash (BCH)

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

Read Also: Hoskinson Stresses Why Cardano’s PoS Is Better as Bitcoin Miners Move with Trucks & Cargo Planes out of China

Cardano (ADA) Current Action in the Market

Things seem to be turning around for cryptocurrencies in the market after a few days of bearish price action. The majority of the top digital currencies, including Cardano (ADA), are in the green, indicating possible resumption of price appreciation.

At the time of press, Cardano (ADA) is trading at $1.52, with a 2.37% price uptrend in the last 24 hours.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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