Michael Van de Poppe is a professional crypto analyst and trader. He is also the coaching head at a student investment group called Beursplien. As per his recent analysis, Cardano’s native token ADA is getting warmed up for a massive rally in the near term. However, the probable price surge is conditioned with certain expectations from the altcoin market.
Michael noted that Cardano has dwarfed under the shadow of Bitcoin in the crypto world. He claims that ADA has been moving in the opposite direction as compared to the BTC price movement since June. According to him, if the Cardano token can have crucial support levels between $1.16 and $1.33, it had a better chance of surging by 800%.
Peter Brandt Says ADA will Plunge Soon
Yesterday, celebrated economist and chartists Peter Brandt claimed that Cardano is headed towards a huge meltdown. Brandt took to Twitter to share his predictions about the third-generation crypto token. He also presented the example of the Litecoin crash that was correctly intercepted by him. The members of the Cardano community claim that these warnings are nothing but an attempt to set off a FUD.
One community member pointed out to Brandt that while the Bitcoin market was in a state of shambles, ADA managed to remain intact. Since April, Bitcoin’s price has been corrected by 54% before the start of August. However, Brandt was ready to take the heat, and he claimed that technical analysts should not be afraid to share their work for fear of being wrong.
The pro-crypto trader Michael seems to disagree with Peter Brandt by a long shot. He claims that if Cardano token ADA could match the value of 3500 satoshis, it might form a solid bottom. Satoshis are the smaller unit of Bitcoin; 1 satoshi is equal to 0.00000001 BTC units. Three thousand five hundred satoshis are currently valued at $1.45, whereas ADA is trading for $1.34 at press time. Michael further added that he is expecting the Bitcoin market to get vamped up once again in August. He claims that the flagship cryptocurrency is likely to do well against the USD. He traced a technical index that sees ADA moving alongside Bitcoin for a month, experiencing a positive rally. As per Michael, ADA can move up by 170% in the Bitcoin pair. On the whole, he is optimistic about a 400%-800% increment for ADA against the US dollar.