Michaël van de Poppe, a popular cryptocurrency analyst and trader, is showcasing his bullishness on Cardano (ADA), the third-largest digital currency by market capitalization.
Van de Poppe, who believes Cardano (ADA) is currently the strongest coin out there, has pointed out that the digital token ADA has the potential to hit $5.
He said this in a video shared with his teeming YouTube subscribers on 11th August 2021. According to the prominent analyst, the market is currently gathering momentum for another notable upside trend.
Michaël van de Poppe noted:
“What is the target zone if Cardano is going to continue moving? That is very simple. We are looking at a continuation with Fibonacci extension… The next target zones for Cardano in a new impulse wave is $3.35 and $5.00… Is Cardano ready for the run to $5? Yes, I think so. I think the market is heating up for another big wave.
Analyst Says He Prefers Holding Cardano to Ethereum for the Next Few Weeks
A popular pseudonymous crypto analyst and trader, identified on Twitter as Capo, his also very bullish on Cardano (ADA) for the next few weeks.
According to Capo in a series of tweets on 10th August, based on technical analysis, he will be more bullish on Cardano (ADA) than Ethereum (ETH), the second-largest cryptocurrency by market cap, in the short term.
In the charts captioned in the tweets, Capo illustrated his reason for preferring to hold more of ADA than ETH for the time being.
57k level is here 👀 pic.twitter.com/eSlfD4PFHx
— il Capo Of $NOIA (@CryptoCapo_) August 11, 2021
Meanwhile, Cardano (ADA) has continued to sunder all difficult resistances on its way to the top and many crypto pundits believe that the cryptocurrency will likely maintain the rally for the next few weeks.
It’s worth noting that the positive trend of Cardano can simply be attributed to the much-anticipated Alonzo hard fork that is estimated to play out on 12th September 2021.
At the time of filing this report, Cardano (ADA) is trading at $2.19, with a relatively 9% price upsurge in the last 24 hours.