A famous crypto trader shares his optimistic price objectives on the intelligent 1 contract platform (ADA).
Michaël van de Poppe
Market expert Michaël van de Poppe tells his 115,000 YouTube subscribers in a new video that he does not feel that the meteoric increase of Cardano has been completed.
According to Van de Poppe, the 3rd-largest crypto asset has increased more than 110% over the last 30 days. Additionally, it has recently crossed the $2.50 standard, a critical level of resistance reached in May by ADA.
“The level to watch is anything in this [$2.00-$2.50] range. If that holds, I’m assuming $3.45 and $5.00 are next for Cardano.”
Cardano Holders to Benefit
If Bitcoin is pushing above its all-time high, Van de Poppe believes that long-term Cardano holders are likely to benefit.
Bitcoin going towards $250,000-$300,000 is quite normal, meaning that Cardano can efficiently run to $10 to $20 before it comes back to this level [around $2.50].”
Fibonacci Extension
A trader utilises an extension from Fibonacci to show potential short-term price goals. Therefore, Cardano rises to new highs all the time.
“The next Fibonacci extension tools, or Fibonacci extension levels, are [$3.50] and [$5.00] for Cardano in the next impulse wave. That is based on the recent high [$2.50], recent low [$1.02].”
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