A top analyst suggests best entry point for ADA may be gone

  • Michael van de Poppe, a cryptocurrency trader, examines the future of Bitcoin (BTC) and Cardano, a smart contract platform (ADA)
  • Van de Poppe is currently examining whether ADA 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

Michael van de Poppe, a cryptocurrency trader, examines the future of Bitcoin (BTC) and 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.

Van de Poppe is currently testing the ADA

This was the region to get into if you wanted to go into Cardano, as well as the higher low that might be formed. 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 can convert resistance at $2.37 into support.

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He’s keeping an eye on the $2.15 level as a potential buy zone if the markets continue to decline. When you look at the four-hour time frame, I believe you get the exact same picture as you do right now with Bitcoin and [Ethereum]. So, if we have a corrective move, you’ll be looking for an entry point around $2.15, so anything in this zone may be a nice entry point.

According to Van de Poppe, ADA will consolidate for sometime

Van de Poppe believes that after retesting support at its prior all-time high, ADA will most likely consolidate for a little while. They can see that they’ve had a lovely retest of the prior high here as well, implying that some consolidation is likely to take place before new impulse waves emerge. So both the USDT and BTC pairs are looking for continuation, which he believes is fantastic and exactly what the markets are asking for right now.

Steve

Steve Anderrsonhttp://www.thecoinrepublic.com

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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