Cardano and Chainlink Bulls Could Step In at These Crucial Levels: Analyst Michaël van de Poppe

cardanooo

Popular crypto strategist and trader Michaël van de Poppe is spotlighting the key levels of support for Cardano and Chainlink as Bitcoin struggles around $30,000.

In a new video, Van de Poppe tells his 108,000 YouTube subscribers that Cardano (ADA) is currently holding support above $1.00, but if that level is lost, the crypto analyst is looking at two levels where buyers could step in.

“If Cardano is going to lose this point ($1.00). I don’t believe we’re going to hit this one once again. I think we’re going to look at support around $0.70 and potentially around $0.82.”

Van de Poppe is also drawing a bullish scenario for Cardano should the Ethereum competitor manage to stay between the $1.00 and $1.15 range.

“On the upside, we’re still making lower highs. So in order to break that momentum, obviously, Cardano has to flip and break above $1.48. But if it does break or test $1.31, that is the first level. If it wants to become bullish, first test $1.31, preferably, only a minimum consolidation. 

If we reject at $1.31 again and come back down towards this green zone, you can see that we’re just tumbling over, and the chances that we’re going to test these levels around $0.70 to $0.90 are significantly increasing.”

Looking at Chainlink, Van de Poppe says the decentralized oracle network might be going through the final stages of its crash against Bitcoin (LINK/BTC). The crypto trader highlights that LINK/BTC is currently hovering around support of 0.00045 BTC or 45,000 satoshis, worth about $13.46 at time of writing. If the pair breaches its immediate support, he sees LINK/BTC dropping down to 0.0004 BTC or $11.96.

“What do you want to see right now with Chainlink? You want to see that it regains 49,000 sats ($14.65). If it does that, the chances are that we’re getting back towards this range high (57,000 sats or $17.04) here again, consolidate down towards 49,000 [satoshis] and then the new uptrend starts.”

Should Chainlink follow the script, Van de Poppe predicts that it can rally to 0.00075 BTC ($22.43), marking a potential increase of over 63% from its current price of 0.00046 BTC ($13.76).

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Everyonephoto Studio

The post Cardano and Chainlink Bulls Could Step In at These Crucial Levels: Analyst Michaël van de Poppe appeared first on The Daily Hodl.

Ronnie Huss

Ronnie Huss

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