The majority of crypto currencies have yet to fully recover from the current market conditions. Many altcoins have been fighting to hold on to the small gains they’ve made, especially while the market is still pessimistic.
Michaal van de Poppe, a crypto analyst and trader, is interested in Cardano (ADA), Chainlink (LINK), and four other altcoins while he maps out their journey as the new month kicks off!
According to him on the ADA/BTC chart, Cardano is holding strong versus Bitcoin (BTC), with support at 0.000039 (3,900 sats). In mid-to-late July, the analyst expects ADA to establish higher lows and begin a major rally.
Cardano is currently trading at a dangerously high risk level. Market participants believe that if ADA receives support from the broader cryptocurrency market, it will rise.
Nexo, a digital asset platform, just added ADA to its suite of financial services. Cardano’s community and Nexo’s clients have been clamouring for the connection.
Cardano ADA is currently trading at $1.2997, up 0.56 percent in the last hour.
Van de Poppe claims that the top oracle project Chainlink is progressing as predicted. After being in an accumulation zone against BTC for a brief time, the analyst expects LINK to target the 0.0006 resistance zone again in the coming weeks.
Chainlink is a game changer, but its price is still tied to the performance of Bitcoin. LINK, on the other hand, was downtrending and valued at $18.64 at the time of publication.
Waves, an open blockchain project, is healthy, according to Van de Poppe, since it manages to stay above both the 100 and 200-day weekly moving averages (WMA).
WAVES may be able to break through 0.00072 for a 65 percent gain if it can overcome 0.00051 sats, according to the trader.
“WAVES is showing strength here as it’s still acting above the 100-Day and 200-Day MA. I’d prefer to see it sustain above 4000 sats and test the 5100 sats area again. If that’s tested another time, most likely continue to 7000 sats for +65%.”
Van de Poppe feels that proof-of-stake, scalable blockchain network Tomochain (TOMO), cross-chain decentralized lending protocol Kava, and liquidity infrastructure for decentralized finance (DeFi) Kyber Network Crystal are all solid assets heading into July (KNC).