By Tobi Loba
Michaël van de Poppe, a top cryptocurrency trader and analyst, has stated that Ethereum (ETH) and Cardano (ADA) are waiting for one signal before launching magnificent price breakouts.
In a series of tweets on 8th June 2021, which was first reported by Daily Hodl, the trader told his teeming followers that despite the current situation in the crypto markets, other cryptocurrencies are still in a phase of consolidation against Bitcoin (BTC).
Read Also: Crypto Trader Aaron Arnold Reveals Why He Remains Bullish On Cardano (ADA) in this Bull Cycle
According to the well-followed analyst, once Bitcoin (BTC) finds its bottom, Ethereum (ETH) and Cardano (ADA) will breakout for new yearly highs.
Michaël van de Poppe tweeted, “Still, altcoins against BTC are doing fine. Just consolidating. ETH and ADA are knocking on the doors of the yearly highs and are eager to breakthrough. I think they will once Bitcoin is bottomed.”
Still, #altcoins against $BTC are doing fine. Just consolidating.$ETH and $ADA are knocking the doors of the yearly highs and are eager to break through.
I think they will once #Bitcoin is bottomed.
— Michaël van de Poppe (@CryptoMichNL) June 8, 2021
Read Also: Popular Crypto Trader Is Favoring ETH Purchase over BTC, As He Predicts Ethereum Chain Split
According to Michaël van de Poppe, ADA/BTC is targeting a new yearly high around 0.000062, which would represent a potential gains of relatively 35% from its current price of 0.000046.
“Cardano doesn’t care and is ready for new yearly highs on the Bitcoin pair.”
#Cardano doesn't care and is ready for new yearly highs on the #Bitcoin pair. pic.twitter.com/15KjAJa87F
— Michaël van de Poppe (@CryptoMichNL) June 8, 2021
The trader also has his eyes glued on another altcoin that has been showing signs of life all along.
Read Also: Crypto Michael Lists Cardano (ADA), Polkadot (DOT), and Six Other Altcoins with Bullish Potential
In a tweet, Van de Poppe said Tezos is finding support on crucial moving averages against Bitcoin as it prepares for the next bull run.
“Tezos holds the 100-day and 200-day MAs here, which looks like we’re going to have a continuation of the bull cycle.”
#Tezos holds the 100-Day and 200-Day MA's here, which looks like we're going to have a continuation of the bull cycle. pic.twitter.com/96BElOVEOX
— Michaël van de Poppe (@CryptoMichNL) June 8, 2021
Read Also: CoinShares: Institutional Investors Are Increasingly Buying Cardano (ADA) and Two Other Crypto
The trader also pointed out that sentiment is drastically reducing in the crypto markets, stressing that this could be a bullish signal:
“The sentiment is getting back to the funeral state. Lovely! Let’s see how this sentiment is going to be in a month from now.”
Follow us on Twitter, Facebook, Telegram, and Download Our Android App