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Four ETH competitors could value up to 70%, analyst says

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ETH is still the biggest blockchain in terms of uses, but several competitors are looking for a share of its market. For analyst Michaël van de Poppe, at least four of them are at crucial moments to reach new valuations.

In this sense, the analyst highlights that Harmony (ONE), Cardano (ADA), Decentraland (MANA) and The Graph (GRT) can reach up to 70% high. Check now which support and resistance are crucial in this trajectory.

Harmony (ONE)

First came Harmony (ONE), a platform focused on decentralized applications (dApps). According to van de Poppe, the cryptocurrency starts to leave its final resistance area behind and prepares to rally up to 71% from its current price of $0.32.

“Strongly high here. Excellent [resistência ao apoio]. Looking for continuation to $0.50 to $0.55,” the analyst pointed out.

In case of failure in this movement, the ONE could seek a correction of up to 35%. In this case, the first supports would be in the $0.23 and $0.21 regions.

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ONE analysis. Source: Michael van de Poppe/Twitter.

Cardano (ADA)

The week was extremely positive for Cardano, which hosted its first decentralized exchange (DEX) and Metaverse at the same time. This was reflected in the price of the cryptocurrency, which rose by 40% in dollar terms in the last seven days.

However, the ADA price in BTC is coming off a sharp 50% drop in the last three months. For van de Poppe, however, this cycle is at an end and if the ADA overcome 0.00003269 BTC, the price is expected to continue higher.

Currently, each ADA is worth 0.00003365 BTC, so breaking the resistance should be done consistently. In case of failure, ADA is expected to seek support at 0.00002440 BTC, down 28%.

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ADA analysis. Source: Michael van de Poppe/Twitter.

Decentraland (MANA)

One of the top Metaverse tokens, MANA hit close to $2.91 this week but has seen a sharp correction. For the uptrend to continue, van de Poppe warns that the token needs to hold the $2.50 support.

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MANA analysis. Source: Michael van de Poppe/Twitter.

The Graph (GRT)

Van de Poppe’s latest bet is a protocol that brings together decentralized finance (DeFi) and Web 3.0. The price of GRT is at $0.52 which, according to the analyst, is a crucial level. To maintain the uptrend, GRT must reach the region between $0.62 and $0.65.

In that sense, the token would be able to bring in a 20% yield against its current price – and that’s before starting the uptrend. If successful, the next resistance is at $0.84, or 23% above the current GRT price.

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GRT analysis. Source: Michael van de Poppe/Twitter.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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