The legendary crypto strategist Michaël van de Poppe reveals his “important” analyzes after the Bitcoin and altcoin market experienced a decline this week.
Analyst expects correction in altcoin and BTC market
In his recent analysis, Van de Poppe says he looked at interesting price ranges for Bitcoin (BTC), Ethereum (ETH) and a few popular altcoins. The analyst thinks we are “in a short-term bounce phase in Bitcoin,” adding that price corrections are a healthy part of bull market cycles. Poppe’s analysis and technical charts:
As a reminder, Bitcoin is 48-50. It could even correct to $1,000 and still be in an uptrend. I expect an elongation cycle to occur and a healthy correction to occur.
In second place is Cardano (ADA)
Van de Poppe is next, looking at Cardano’s cryptocurrency ADA. According to the analyst, a correction in ADA price can be expected:
Cardano is still making corrections. Probably sales will grow even more at this point. We may see a correction in the $1.50 area, but then I think the correction will be over.
Regarding the veteran altcoin Litecoin (LTC), the price chart below highlights one area of demand.
Van de Poppe then discusses Phantom (FTM), a scalable Blockchain platform for DeFi and DApps. The analyst says FTM has strong support levels between $1.50 and $2.00.
Regarding supply chain management blockchain VeChain (VET), Poppe thinks VET has a chance to rise compared to BTC if it can maintain the range of 0.00000173 and 0.00000198.
Cryptocoin. com, the last of the list is the anti-inflationist Reserve Project and its associated token, RSR. While pointing out the range between 0.00000052 and 0.00000112 BTC, Van de Poppe says the following for the RSR altcoin:
I expect RSR to get interesting relatively soon.