Following the crypto market correction this week, popular crypto analyst Michaal van de Poppe has updated his research on what levels Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) must hold.
The trader tells in his latest YouTube Video that the market correction is creating a “really nice entry zone” for traders looking to enter the market.
“If you go back in history, September is usually a pretty bad month, but October and the rest of the year is usually quite bullish.”
The essential level for Bitcoin to retain at this point, according to Van de Poppe, is a price between $37,500 and $40,000. He believes BTC might retest $28,000 if it falls that level. however, he believes the bull cycle will continue, and that BTC will continue to rise if it recovers above $44,000.
According to Van de Poppe, the crucial level to watch for Ethereum is about $2,600. If that continues true, he believes the upward trend in ETH will continue. The Major altcoin would have a “relief bounce” up to $3,500, then plummet to a higher low before continuing to rise in price.
Cardano (ADA) will need to break through $2.35 to appear bullish again, according to analysts. Cardano is “getting into a massive buy opportunity,” he adds.
If ADA loses its $1.90 level, he believes it will fall all the way to $1.50. Poppe stated that after one more bull run, he intends to exit cryptocurrency totally.