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.
[adinserter block="1"]“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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