A widely followed crypto analyst updates his outlook on several top altcoins as markets stumble.
Crypto trader Michaël van de Poppe recount its 618,000 Twitter followers that Cardano (ADA) is currently meeting resistance.
“ADA
Looking hard here, but at resistance.
If we are successful, I guess we will see $0.67 next, but I would prefer to buy or look for longs around $0.48.
ADA is trading at $0.49 at the time of writing.
Van de Poppe said Avalanche Layer 1 Protocol (AVAX) is facing similar resistance to the rest of the crypto markets.
“AVAX
Still looking at a scenario like this, as the broader market is facing resistance at this point (at least a little overextended).
The same goes for AVAX.
AVAX is trading for $24.98 at the time of writing.
The merchant recount its followers that the high-speed blockchain Zilliqa (ZIL) will likely experience a decline.
“ZIL
This one looking for a dip here plays around $0.0375 or potentially $0.041 for a possible new trade.
This could be a trade towards $0.052.
ZIL is trading at $0.041 at the time of writing.
The analyst then looks to Etherum (ETH) Polygon layer 2 scaling solution (MATIC), predicting a substantial drop in MATIC’s current price of $0.92.
“MATIC
I would look at regions around $0.73 for longs.
Already mentioned earlier that it was overfished around $1.
Looking at the Fantom layer 1 blockchain (MTF), the widely followed analyst waits Current FTM fix to continue.
“After a big impulse, there is usually a substantial correction.
The same goes for FTM.
Significant run and momentum is on the upside, but corrections take place during such momentum.
Now nostalgia regions are found in the set and can be played.
FTM is trading at $0.33 at the time of writing.
Finally, Van de Poppe take the king crypto bitcoin (BTC), calling the mid-to-low $22,000 region a potential zone for BTC long buys.
“A potential area for Bitcoin longs is also approaching.”
BTC is trading for $23,029 at the time of writing.
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