Foremost crypto and financial analyst, Michael van de Poppe, has come out with an outline of some possible price patterns that may be seen by both Cardano and Ethereum for the most recent surge in the price and market value of the two smart contract trading platforms.
While broadcasting through a video recently, Michael van de Poppe spoke to his more than 164,000 subscribers on YouTube and assured them that Ethereum is currently on its way to another level of resistance for the premium crypto assets which is $3,500. He said this was going to be the next stop for Ethereum after it had managed to post its highest level in a period of four months.
While hoping for the best, however, the analyst gave a strong warning that there might be a correction in the price of Ethereum if it so happens that the top platform for smart contracts does not get successful at breaching the resistance level at $3,500.
In his soothing words to his followers and other sets of listeners, Van de Poppe said that what everyone would like to see is a situation where “we” (referring to Ethereum holders and traders) start gaining some strength so much that “we” begin an accelerate much more rather than the situation of crawling uphill that has been the case.
Van de Poppe said that in that accelerated situation, he thinks that Ethereum holders and traders can begin to take those high positions too and if there is clearly not going to be a continuation of strength in that time in focus, Van de Poppe said he sees a situation where he takes his profit on Ethereum off and then gets ready for a reset of the price cycle.
At the time of putting this piece together, Ethereum was trading in the green zone at $3,153.
For Cardano on the other hand, the crypto analyst said that he equally sees ADA having a rally over the short-term before it makes any important move towards correction. According to him, it looks like ADA holders and traders are very likely to make a sweeping raid of the highs at $1.30 since that is the point of resistance. He expects that there will be a bearish divergence after that and it will get a move of correction back upwardly in the direction of $0.95 since the market is eager to get profits for their initial building position.
Van de Poppe said that if that goes on to be the case, he would not be expecting to see a continuation just yet.
At the time of putting this together, Cardano was trading at $1.14.