Crypto strategist and trader Michaël van de Poppe says Cardano and three low-cap altcoins must take out some key levels to ignite strong breakouts as the digital asset market rebounds.
In a new tweet, Van de Poppe tells his 341,300 followers that while Cardano is holding a key level against Bitcoin (ADA/BTC), it still has to surge above an immediate resistance to start moving higher.
“Good bounce from support, but we need to see continuation if it wants to sustain bullishly. Crucial breaker on the upside 4,500 satoshis (0.000045). If support between 3,800 – 4,000 satoshis (0.000038 – 0.00004) is lost, I’m looking at the 2,900 satoshis (0.000029) range next.”
Next up is layer 2 scaling platform Celer Network, which the crypto trader says is starting to flash bullish signals against Bitcoin (CELR/BTC).
“CELR has been waking up slightly, but still much more to come in order to continue the momentum. Breaking above 105 satoshis (0.00000105) would open up the path to 125 – 135 satoshis (0.00000125 – 0.00000135).”
Another altcoin on the trader’s radar is Alogrand, a blockchain for decentralized finance (DeFi) applications. According to Van de Poppe, Algorand is in a strong uptrend against Bitcoin (ALGO/BTC), but the pair must take out a crucial resistance to potentially launch an 82% rally.
“This one is, actually, still very bullish in outlook on the BTC pair, making structural higher lows and holding above the 100-day and 200-day MAs (moving averages). Breaking above 2,900 satoshis (0.000029) and I think we’ll see 4,000 (0.00004) and possibly 5,300 satoshis (0.000053).”
Also on Van de Poppe’s list is cross-chain data protocol Band Network. The crypto analyst says Band Network has to breach a strong resistance level to start its bull cycle against Bitcoin (BAND/BTC).
“Full retrace of the previous cycle and approaching cycle low support. The area around 14,000 – 17,000 satoshis (0.00014 – 0.00017) is heavy interest. The crucial breaker on the upside is the 30,000 – 33,000 satoshis (0.0003 – 0.00033) zone. [It] has to flip MAs too.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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