Bitcoin price plunged to $42,732.98 on Saturday, down 3.95% in the last 24 hours. The market cap of the largest cryptocurrency stood at $801.92 billion. Bears have seized the initiative by the end of the week as all of the coins from the top 10 list are in the red zone.
He’s presuming that Cardano is close to bottoming out at this point, at which point we can expect new impulse waves to emerge. The crypto expert claims that ADA Price has breached key price levels, crossing the $1.90 to $2.10 zone.
Van de Poppe then turns his attention to the token’s Bitcoin pair (ADA/BTC), predicting that Cardano might reach new highs.
According to him, we should see some small consolidation, similar to what we saw in April. So there will be some stabilization here before we break resistance, but if we do, he believes we’ll be setting new all-time highs or new highs for Cardano here as well.”
An important price level for XRP Price has also been identified by the trader, which might imply a bullish signal for the crypto market.
He believes that if you want to get into the markets, now is the time to do it because the market has finally bottomed out and is ready for the next impulsive wave.
What is the XRP level of difficulty to crack? It needs to break through the area around $1.05 to be successful. I don’t think we’ll receive it all at once, but I do believe that once it gets through there, all coins will start breaking out left and right. However, on XRP, this is a good candle.”
The widely-followed expert believes that the current downturn is a good time to enter the market, recommending Avalanche (AVAX), Solana (SOL), and Fantom (FTM) as three altcoins to buy now while prices are low.
“Should you be getting interested in the markets when it’s approaching support and when projects are dropping down by about like 35% to 45%? Yes, of course. When you get towards the support, people will ultimately become quite bearish and they are only expecting further downward momentum. That is the moment that you want to get into the markets.”