For many, the cardano (ADA) course has been boring lately. There were no major gains and the price held above $ 1. However, Dutch analyst Michaël van de Poppe, better known as Crypto Michaël, expects that there is still some gunpowder in the barrel. He said this in a recently published analysis on YouTube.
Cardano is often labeled as a possible "Ethereum killer." Which in itself is not surprising given that both projects support smart contracts. Cardano is still in the development phase, so the project will not be able to make a dent in Ethereum’s dominance in the short term.
The price has been dangling around $ 1.20 for a while. Yesterday there was another small pump, probably as a result of the good news that Cardano has invested in COTI. ADA is now correcting back down again. But what does De Poppe expect from the race?
In his video he mentions some crucial price levels that he keeps an eye on. These include the following levels:
“Right now, we’re getting some crucial levels that should generally hold up, which is this entire region around $ 0.90. We have higher highs. We have higher lows. So this ($ 1.10) is the critical level to stick to right now. This is the obvious one. If the price falls through that, we can still assume that $ 0.90 is the next level. But that should be the low point. ”
At this point ADA would still be in an accumulation phase. A possible follow-up to this could be an outbreak, and that could be spectacular. Van de Poppe states in his video:
“As soon as it starts running, I think it will accelerate significantly and increase 2x, 3x, 4x from here. And yes, the market will rise much higher in this cycle than most of you expect. ”