speak that greener pastures could be coming for Bitcoin (BTC) if the leading cryptocurrency can hold the $42,000 support.
“If the area around $42K holds, I think we will start to look upwards.
Above $43k, we can accelerate to $46,000 because Bitcoin doesn’t have much in between.”
Currently, Bitcoin is up 2.32% and is priced at $43,639.
Next Analyst look at the Ethereum (ETH) decentralized network, recently came out of a month-long slump. He is eyeing two key levels to see where the leading smart contract platform is headed in the future.
“Good bounce from Ethereum.
The levels I am watching are $3,350 and $3,600 to break for further bullish scenarios.”
Ethereum is currently up 3.76% on the day and trading at $3,345.
Van de Poppe switched to distributed ledger XRP, last trading on a dollar on December 23 and ranging between $0.70 and $0.80 over the past week. Analyst Highlights in his chart of how XRP is trading in the same range as it did right before the breakout last summer.
“Honestly, not the worst place to look at XRP.”
XRP is trading for $0.79 at the time of writing.
Looking at enterprise-grade scalable blockchain platform Elrond (EGLD) in the EGLD/BTC trading pair, Van de Poppe highlights the 0.004217 to 0.004834 range, which is the altcoin to hit in November and December of last year before the most recent major breakout.
“EGLD may bottom out.”
Elrond has seen variable price action this month, falling from a December 15 high of $338.55 to a low of $186.88 on January 7. ELGD is up 2, 55% of the day and changed hands for $211.93.
Van de Poppe wraps up his crypto predictions by examining supply chain management project VeChain (VET) on the VET/BTC trading pair. Analyst think VeChain charts reflect past price action and VET could break out after further consolidation within the support range.
“For VET, the instrument is still showing movements comparable to the price action we have seen over 2020-2021.
Failed to break through a key resistance.
Some more consolidation until a new impulse move can begin. ”
VeChain has been boosted by 5% today and is worth $0.08 at the time of writing.
ParabolStudio / Nikelser Kate