Next is the Cardano smart contract, which Van de Poppe thinks may have kicked off a new market cycle against Bitcoin (ADA/BTC) after losing more than 50% of its value in about four months.
“The new cycle has begun? Looks pretty good.”
At the time of writing, ADA is trading at 0.000038 BTC ($1.62), up more than 46% from its 2022 low of 0.000026 BTC ($1.10).
Another coin on Van de Poppe’s radar is virtual reality platform Decentraland (MANA). According to the crypto strategist, MANA must sustain above the support at $2.50 to be able to sustain its bullish momentum.
“Key area seems to be holding -> bullish continuation?”
Currently, MANA is changing hands at $2.91.
The last coin on the list is The Graph (GRT), a blockchain data organization and indexing platform. Van de Poppe said GRT must clear its immediate resistance to generate bullish momentum.
“This needs to pass a critical level. If that happens, the trend is likely to reverse.
Critical area: from $0.625-$0.65. ”
At the time of writing, GRT is trading at $0.55.
Alberto Andrei Rosu / Mingirov Yuriy