The past several days didn’t go all that well for the alternative coins, and many of them failed to recover the recent losses. However, the situation has changed to a large extent since early trading hours.
Many altcoins gained over 10%, including AAVE, LINK, VET, CAKE, SHIB, SUSHI, and more. Out of these, AAVE rallied almost 25% and it broke the USD 380 level.
Michaal van de Poppe, a crypto trader and analyst, discusses his predictions for Cardano (ADA) and six other altcoins.
Cardano is looking strong relative to other crypto assets amid the market correction, according to a new video, with its price movement continually making higher lows. According to him, ADA’s next aim is $3.35, followed by a potential rocket to $5.00.
He says that if we break over $1.80, we may apply the Fibonacci extension to calculate the next target zones of $3.35 and $5.00. There we can start targeting these two target zones here if we get this break to the upside, if Bitcoin finds its bottom formation here. There is upside to be expected, and not everything in the markets is bad.
Van de Poppe is also interested in six cryptos, the first of which is SXP, the native coin of the Swipe crypto wallet. When SXP price breaks above the 100-day moving average (MA) against Bitcoin (SXP/BTC), the trader believes a positive breakout will occur.
This one is consolidating between the MAs at the moment, and if it breaks back above the 100-Day MA, a bullish trigger can be produced.
If accumulation resistance breaches, a new impulse wave will be triggered according to him.
The smart contract platform Avalanche against Bitcoin (AVAX/BTC) is next on Van de Poppe’s radar, which he says “was crushed” in comparison to other altcoins during the correction. He believes AVAX/BTC can restart its bullish momentum if it can break over the 0.00061 region, which is around a 22 percent rise from its current value of 0.00049.
Next up is Cosmos (ATOM), an interoperable blockchain system that Van de Poppe believes will continue to rise against Bitcoin if it breaks the 200-day moving average, which is now at 0.0004.
This one is solidifying in a range here, and it’s also functioning between the important MAs. If the price breaks above the 200-Day MA, I expect the trend to continue. Green zones must be maintained according to him.
The closely-followed trader also claims that ONE, the native token on Harmony’s decentralised application (DApps) platform, has a chance to soar to new highs if ONE/BTC can hold the crucial level of 200 satoshis (0.000002) for the time being.
Chainlink, a decentralised oracle network, is another crypto Van de Poppe is keeping an eye on in its Bitcoin pair (LINK/BTC). He believes it’s a positive indicator that the LINK/BTC has climbed back above its key moving averages, and that if they hold, a 42 percent increase from its current price of 0.00083 to 0.00118 is possible.
The last coin on Van de Poppe’s radar is RSR, the native token of Reserve Rights, a stablecoin platform. RSR/BTC could be seeking a 70% rise from 0.00000088 to 0.0000015 to test the next key resistance region, according to the analyst.