July 24, 2024
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Michaël van de Poppe: Cardano can skyrocket to this ‘Insane’ price

A famous crypto trader shares his optimistic price objectives on the intelligent Cardano 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].”