High-profile crypto strategist and trader Michaël van de Poppe is outlining the key levels to watch for Cardano and seven altcoins in order to sustain their bullish market structures.
In a new tweetstorm, the trader tells his 236,000 followers that Cardano (ADA) must hold its immediate support to avoid the possibility of a renewed sell-off.
“This one is on a crucial spot, just like Ethereum and Bitcoin are. Holding here could mean a reversal. Losing the $1 area and I’m looking at $0.675 and $0.80.”
Another coin on the trader’s list is video and gaming protocol Verasity (VRA), which he says must hold support around $0.02.
“This one seems to be correcting after a massive impulse move and such a correction is normal. Lost support level, now approaching next support and we might make a bottom here.”
Next up is cross-chain decentralized finance (DeFi) protocol Reef Finance (REEF). According to Van de Poppe, REEF is currently range-bound as long as support between $0.027 and $0.003 holds. The initial target is the range resistance of $0.049.
Van de Poppe is also watching the developments in Telcoin (TEL). The crypto designed for mobile operators must hold support around $0.0045 to restart its uptrend.
“Heavy impulse moves upwards, with a very healthy correction now as well. Crucial support received a test. If that holds and the red area around $0.0064 breaks, a new impulse move seems next.”
The crypto strategist is looking at Fetch.ai (FET) as well. According to Van de Poppe, the blockchain-based artificial intelligence project may dip to as low as $0.27 before it can carve out a bottom.
Reserve Rights (RSR) is also on Van de Poppe’s list. According to the trader, the cryptocurrency that facilitates the stability of Reserve Token (RSV) is poised for another leg up against Bitcoin (RSR/BTC) as long as it holds support of 0.00000127.
“This one is currently on a crucial spot as it should flip the resistance here for support… If we do, a continuation of the uptrend.”
Van de Poppe is also keeping a close watch on payments infrastructure platform COTI, which he says is due for one more leg down at $0.20 before it can ignite a rally.
The last coin on Van de Poppe’s radar is crypto and fiat payments processor UTRUST (UTK). The crypto analyst says UTK must hold support at 0.00000694 against BTC to get another shot at the resistance of 0.000011.
“Repost of an old chart in which the red zone was indeed the sell area for this one. Currently in support. Still accumulating before the next impulse wave.”
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Featured Image: Shutterstock/Tithi Luadthong
