Crypto analyst Michael van de Poppe says Cardano could prepare for 800% rally

A popular crypto analyst says Cardano (ADA) could witness another big rally this year as two key levels of support remain.

In the new strategy session, Michael Poppe says Cardano has been on a downward trend towards Bitcoin since late June.

 
It highlights the $ 1.33 zone as the first support level and the $ 1.16 zone as the second critical support level.

“[Cardano] consolidates or withdraws, it’s good here. This was one of the biggest runners of 2021, especially the one who generated the most hype.”

For Cardano to build a solid base, Poppe says he needs to break the 3,500 satoshi level, which was around $ 1.45 at the time of publication. This could go a step further in a positive direction.

When that happens and the market starts its crypto-bull run, it will see Cardano’s dollar value rise by as much as 800%.

“If we’re going to hit a bottom around 2800 satoshi [about$ 1.16], we could see 170% and usually exceed 190% of a pair of bitcoin trades.

I also hope to estimate the value of bitcoin against the US dollar well. So if we reach this region, it will change the value of the US dollar by 400-800%, especially given that the market is heating up again.”

Van de Popp is pursuing a path that allows Cardano to consolidate about a month before a possible comeback begins.


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