Popular cryptocurrency strategist Michaël van de Poppe is mapping out what he thinks about ETH’s competitors: Cardano (ADA), Fantom (FTM) and Harmony (ONE).
In the case of Cardano, the analyst said that ADA must recover a key level to trigger a 25% rally.
“This one made a false breakout above $1.50. Dumped back to the break. If he wants to retest the $1.50 area, I would be looking at a flip and recovering $1.20 first.”
Already the analyst known as Altcoin Sherpa said that the price of ADA could rise if there is a slight recovery in the crypto market.
“$ADA: since everyone’s exposed to just altcoins, I’m going to be doing a bunch of alt charts where I think decent support is. That doesn’t mean that there wont be bounces before this time but these are meaningful lvls of support where price could eventually go. support: .40.”
Fantom and Harmony
Next, regarding Fantom, Van de Poppe said that the FTM/BTC pair managed to hold support at 0.00005 BTC ($1.81). It must now clear resistance at 0.000068 BTC ($2.48) to launch a breakout rally.
“The crucial area to avoid a nuclear bomb was the 6800 sats zone. Didn’t hold. Support between 5100-5400 sats (0.00005 BTC – 0.000054 BTC), resistance at 6800 (0.000068 BTC) sats. If this breaks -> new impulse wave.”
Finally, the last cryptocurrency on the trader’s radar is Harmony, a blockchain focused on powering a decentralized economy.
Thus, in the case of the ONE token, Van de Poppe highlighted that the cryptocurrency may be positioning itself for a bounce against BTC (ONE/BTC) after sustaining support at 0.000005 BTC or $0.18.
“If you want to get into ONE, then this is probably the region you are looking for.”