Widely-followed crypto strategist Michaël van de Poppe says he’s keeping a close watch on the price action of Cardano, Ethereum and two low-cap altcoins as the digital asset market continues to show signs of weakness.

In a new tweet, Van de Poppe tells his 346,800 followers that while Cardano has recovered a key level against Bitcoin (ADA/BTC), the pair must retest it as support to potentially ignite a fresh rally.

 

“Cardano breaking back up in which it should be flipping the 3,800 satoshis (0.000038) level if it wants bullish continuation.”

Source: Van de Poppe/Twitter

As for Ethereum, the trader says the leading smart contract platform must stay above support around $1,800 to have a shot at launching a 27% surge.

“Ethereum holding here would mean test at $2,300 or $2,600 is on the horizon.”

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Source: Van de Poppe/Twitter

At time of writing, Ethereum is trading at $1,864, according to CoinMarketCap.

Another altcoin on Van de Poppe’s radar is supply-chain management protocol VeChain (VET). The crypto strategist highlights that should VET hold its long-term support, he sees the crypto asset erupting nearly 60% toward an immediate resistance.

“VeChain still consolidating here. The critical level is $0.095 to break. Support is found at $0.06.”

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Source: Van de Poppe/Twitter

The next altcoin on the trader’s list is blockchain video sharing platform Verasity (VRA). According to Van de Poppe, VRA has become interesting after retracing to a significant support zone around $0.008. The crypto trader says that a move above $0.0135 could potentially catapult the coin to its next resistance of $0.024, representing a potential move of over 77%.

“Verasity? Everybody wanted to have that one a few months ago as it would disrupt the gaming industry. Now? Nobody wants to have it, while it’s having some interesting retests and clear support tests happening here. I think it might become interesting.”

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Source: Van de Poppe/Twitter

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Featured Image: Shutterstock/Liu zishan

(Excerpt) Read more Here | 2021-06-26 22:50:40
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