Michaël van de Poppe, a crypto trader and analyst popularly known as Crypto Michael, has aired his prediction regarding the price trend of Cardano (ADA), as the network of the emerging smart contract platform gets prepared for the deployment of smart contracts functionality.
As first reported by Daily Hodl, the crypto trader revealed the key level that ADA/USD pair must maintain in order to sustain the strong price uptrend that notably started early this year. He said the same also applies to ADA/BTC pair.
“Right now, we do get some critical levels that we have to hold in general for Cardano which is this entire region around $0.90. We got higher highs. We got higher lows. So this is currently ($1.10) the critical level to hold on to. This is the obvious one. If that is lost, we can still assume that $0.90 is the next level. But that should be the low.”
“As long as it stays above in this green zone (0.00001780), so we get an accumulation like this, it is ready for the next big move. As long as it does not break this level (0.00001780), the USD value will not drop to $0.70 or lower. So you should be seeking for those entry points that I’ve just mentioned for Cardano.”
According to the crypto strategist, ADA/USD and ADA/BTC are currently in the accumulation phase. He said after this phase, the two pairs could embark on a significant uptrend.
“Once it starts to run, I think it’s going to accelerate significantly and pull another 2x, 3x, 4x from here. And yes, the market is going to be way higher in this cycle than most of you are expecting.”
Meanwhile, Michaël van de Poppe had earlier predicted that Cardano (ADA) has the potential to surge 1,600% from current prices before this bull market expires. He specifically stated that ADA could reach $10 to $20.
Also, the countdown to the Goguen era, which will bring the full functionality of smart contracts to the Cardano network, has been released. Obviously, the next six months will be hectic for the Cardano development team, as they are determined to deliver as promised.