Top crypto analyst and trader Michaël van de Poppe is defining key levels for Ethereum (ETH), Cardano (ADA), Eos and Icon (ICX).
Van de Poppe tells his 337,000 Twitter followers that top smart contract platform Ethereum is holding up well on the daily timeframe.
The asset is finding support around the $2,300-$2,400 level and faces key areas of resistance at $2,900, $3,275 and $3,704, according to the trader’s chart.
“Ethereum also resting on that support between $2,300-$2,400 and looking great on the daily candle.
The market isn’t that bad.”
As for Ethereum competitor Cardano, the asset appears as though it wants to continue its upward ascent, however, it must hold current support at around $1.50, warns the analyst.
“Cardano also showing continuation here, that’s great. Crucial area holding for support.”
Eos, another smart contract platform competing in the space, looks good against Bitcoin, says Van de Poppe, as it dips back toward 0.000149 satoshis (sats).
“Well, EOS is retracing to the crucial area of support here. This seems to be holding up, as then the run above the 100-day and 200-day moving averages can continue to last.
BTC pairs of altcoins are still looking good.”
At time of writing, EOS is up over 10% on the day against USD, trading at around $5.39.
Intermediary blockchain network Icon, is on the verge of deciding between a break down or a break up in its BTC pair (ICX/BTC), says Van de Poppe.
The trader’s chart shows ICX making a run for 0.000045 satoshis if it is able to surmount resistance at 0.000034, and shows the asset breaking down toward 0.000018 if it fails to hold 0.00003.
“Icon is looking like we want to see a breaker between the two levels. Breakout to the upside is continuation towards 4500 sats. Most likely, as support is holding again.”
In regards to the flagship cryptocurrency itself, Van de Poppe says BTC is also facing a critical decision time, attempting to break solidly above $35,000.
“Bitcoin attacking $34,000 back again and therefore scenario 2 is applied.
Through that (depending on coming days), a bullish divergence might become valid here. That would generate fuel to a reversal. Critical breaker; $35,000.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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