Crypto trader Michaël van de Poppe examines the future of Bitcoin (BTC) and the Cardano smart contract platform (ADA).
The analyst tells his 420,000 Twitter followers that the best entry point for Cardano may be gone after the asset rebounded from a key support level at $ 1.86.
“If you want to get into Cardano, this was the region you would want to get into, and the lowest that could be created.
So based on the daily schedule, the best entry might be gone, but you’re still getting a better entry than those who bought around $ 2.80. “
Van de Poppe is now looking to see if ADA can turn resistance at the $ 2.37 level into support.
If the markets correct further, he is keeping an eye on the $ 2.15 level as a potential buy zone.
“When you look at the four hour timeframe, I think you get the exact same view as what you currently have on Bitcoin and [Ethereum], Actually. So you’re going to be looking for an entry point around $ 2.15, so anything in that area could be a good entry point if we get a corrective action.
Looking at the Bitcoin pair, van de Poppe believes ADA will most likely consolidate briefly after retesting support at its previous high.
“We can see that we had a nice retest from the previous peak here as well, and so some consolidation is probably going to take place before we have further waves of impetus.
So USDT and BTC are looking for a continuation, and I think that’s just great, and I think that’s exactly what we want to see with the markets right now.
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