Widely-followed crypto strategist Michaël van de Poppe says he’s keeping a close watch on the price action of Cardano, Ethereum and two low-cap altcoins as the digital asset market continues to show signs of weakness.
In a new tweet, Van de Poppe tells his 346,800 followers that while Cardano has recovered a key level against Bitcoin (ADA/BTC), the pair must retest it as support to potentially ignite a fresh rally.
[adinserter block="1"]“Cardano breaking back up in which it should be flipping the 3,800 satoshis (0.000038) level if it wants bullish continuation.”
As for Ethereum, the trader says the leading smart contract platform must stay above support around $1,800 to have a shot at launching a 27% surge.
“Ethereum holding here would mean test at $2,300 or $2,600 is on the horizon.”
At time of writing, Ethereum is trading at $1,864, according to CoinMarketCap.
Another altcoin on Van de Poppe’s radar is supply-chain management protocol VeChain (VET). The crypto strategist highlights that should VET hold its long-term support, he sees the crypto asset erupting nearly 60% toward an immediate resistance.
“VeChain still consolidating here. The critical level is $0.095 to break. Support is found at $0.06.”
The next altcoin on the trader’s list is blockchain video sharing platform Verasity (VRA). According to Van de Poppe, VRA has become interesting after retracing to a significant support zone around $0.008. The crypto trader says that a move above $0.0135 could potentially catapult the coin to its next resistance of $0.024, representing a potential move of over 77%.
“Verasity? Everybody wanted to have that one a few months ago as it would disrupt the gaming industry. Now? Nobody wants to have it, while it’s having some interesting retests and clear support tests happening here. I think it might become interesting.”
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