A widely followed crypto strategist is plotting what’s in store for a handful of digital assets amid uncertain market conditions.
Analyst Michaël van de Poppe tells his 628,100 Twitter followers that he believes smart contract platform Cardano (ADA) is in an accumulation phase as it continues to trade above his key support level.
“The ultimate area to buy from is the region at $0.30-$0.375. However, will we see it front-ran and people are already stacking? In that case, [the] break of downtrend is your long trigger.”
At time of writing, ADA is trading at $0.45, flat on the day.
Van de Poppe is also eyeing Ethereum (ETH) challenger Avalanche (AVAX) in its Bitcoin pair (AVAX/BTC). According to Van de Poppe, he wants to see the pair trading above 0.00092 BTC ($17.91) to have a shot at rallying toward his target.
“If we’d like to see continuation on the markets here, I’d preferably want to see AVAX hold at 0.00092 BTC to create a higher low.
If that happens, we’ll most likely trigger longs and run towards 0.001 BTC ($19.46).”
At time of writing, the AVAX/BTC pair is valued at 0.0009 BTC ($17.52).
Next up is Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. Van de Poppe says ATOM is showing “a ton of strength” and that he expects the coin to ignite its next leg up.
“Long should be activated at $13 and now. Low timeframe based, I’d preferably want to see $13.85 hold for support. Then I’m assuming we’ll hit $16+ and take highs.”
At time of writing, ATOM is changing hands for $13.97, down 1.56% on the day.
The last coin the trader’s list is peer-to-peer payments network Litecoin (LTC) in its Bitcoin pair (LTC/BTC). According to Van de Poppe, LTC/BTC will likely start a fresh rally as long as it’s trading above 0.00266 BTC ($51.77).
“This one is still following the path. If BTC remains calm in coming days, we’ll probably see a continuation towards 0.0034 BTC ($66.18) as the long was activated.”
At time of writing, the LTC/BTC pair is swapping hands for 0.00276 BTC ($53.72).Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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.
Featured Image: Shutterstock/Sensvector/konohanj