Micheal van de Poppe, a cryptocurrency trader, examines the future Cardano, a smart contract platform (ADA). After the asset bounced off a crucial support level at $1.86, the expert advises his 420,000 Twitter followers that the best entry point for Cardano may be gone.
He stated that if you wanted to get into Cardano, here was the area to do so, as well as the higher low that might be produced.
So, while the greatest entry may be gone based on the daily period, you’re still receiving a better entry than those who have been purchasing around $2.80.”
Van de Poppe is currently examining whether ADA price can convert resistance at $2.37 into support. He’s keeping an eye on the $2.15 level as a potential buy zone if the markets continue to decline.
He believes that when we look at the four-hour time frame, you’re getting the exact same view as you are right now on Bitcoin and Ethereum. So you’ll be looking for an entry position around $2.15, so anything in this vicinity may be a good entry opportunity if we get a corrective move.”
Van de Poppe believes that the bitcoin pair after retesting support at its prior all-time high, ADA will most likely consolidate for a little while.
“We can see that we’ve had a beautiful retest of the previous high here too, and therefore some consolidation is most likely going to take place before we’re going to have new impulse waves. So both the USDT and BTC pair are looking for continuation, and I think that’s just great, and I think that’s just what we want to see with the markets right now.”
ADA Price to Reach $10?
Cardano’s ADA token is expected to reach $10, according to popular pseudonymous analyst and trader “Crypto Capo.”
When $ADA was trading in the range $2.2500 to $2.4578 on Saturday (September 25) the first day of the two-day Cardano Summit 2021 event, he believed $ADA had bottomed at $1.90 and was now heading towards $10.