A broadly adopted crypto analyst is updating his outlook on a number of main altcoins because the markets stumble.
Crypto dealer Michaël van de Poppe tells his 618,000 Twitter followers that Cardano (ADA) is at present assembly resistance.
“ADA
Looking sturdy right here, however at resistance.
If we crack via, I’m assuming we’ll see $0.67 subsequent, however I’d ideally need to lengthy or search for longs round $0.48 area.”
ADA is buying and selling for $0.49 at time of writing.
Van de Poppe says layer-1 protocol Avalanche (AVAX) is dealing with a resistance comparable to the remainder of the crypto markets.
“AVAX
Still a state of affairs like this as the whole market is dealing with resistance at this level (not less than a bit overextended).
Same goes for AVAX.”
AVAX is buying and selling for $24.98 at time of writing.
The dealer tells his followers that the high-throughput blockchain Zilliqa (ZIL) will seemingly see a dip.
“ZIL
This one trying for some dip performs right here round $0.0375 or doubtlessly $0.041 for a brand new potential commerce.
That could possibly be a commerce in the direction of $0.052.”
ZIL is buying and selling for $0.041 at time of writing.
The analyst then looks at Ethereum (ETH) layer-2 scaling resolution Polygon (MATIC), predicting a considerable drop from MATIC’s present value of $0.92.
“MATIC
I’d be areas round $0.73 for longs.
Already talked about earlier that it was overextended round $1.”
Looking at layer-1 blockchain Fantom (FTM), the broadly adopted analyst expects FTM’s present correction to proceed.
“After a giant impulse, there’s normally a considerable correction.
The similar goes for FTM.
A major run and momentum are upwards, however corrections happen throughout such a momentum.
Now, areas for longing are discovered total and could possibly be performed.”
FTM is buying and selling for $0.33 at time of writing.
Finally, Van de Poppe takes on the king crypto Bitcoin (BTC), calling the mid-to-low $22,000 area a possible space for BTC longs.
“A possible space for longs on Bitcoin is approaching too.”
BTC is buying and selling for $23,029 at time of writing.
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https://dailyhodl.com/2022/07/21/heres-whats-next-for-polygon-cardano-and-three-additional-altcoins-according-to-analyst-michael-van-de-poppe/
