The crypto market keeps struggling to recover following the recent price losses. At the moment of writing this article, Bitcoin is trading in the red and the king coin is priced at $20,676.
A really popular crypto strategist says he’s expecting to witness bullish continuations for Cardano (ADA), Binance (BNB), and more coins.
New crypto predictions are out
Analyst Michaël van de Poppe said not too long ago that smart contract platform Cardano must take out its immediate resistance at $0.47 to ignite the next leg up.
“This one is looking ready for continuation as a resistance-to-support flip has been taking place at the $0.46 region. We need to see the same on the $0.47 level and then we’ll be good for acceleration. Targeting $0.55 as the next region.”
At time of writing, Cardano is priced at $0.46.
Next up is Binance Coin, the utility token of crypto exchange Binance. With BNB now trading at $231, Van de Poppe says that he’s waiting for the fifth-largest crypto asset to revisit its immediate support.
“This one is doing well. Flipped the $215 level for support and continued the momentum. No resistance until $255-$260. If it breaks sub $240, I’d be looking at $215 again.”
ATOM price prediction
The analyst is also addressing Cosmos (ATOM), an ecosystem of blockchains designed for both scalability and interoperability. Van de Poppe says he’s expecting ATOM to sustain its short-term uptrend to as high as $12.
“So far, so good. This one is trending upwards and has to sustain above $8.50 to avoid a breakdown. If that happens, we’ll most likely see continuation towards $10 and possibly $12.”
Crypto market hit bottom
FTX chief executive Sam Bankman-Fried is weighing in on the state of crypto after a rocky month in the markets.
In an interview with Real Vision, Raoul Pal that it is possible prices have finally bottomed out, noting that other investment classes have also seen shakeouts recently.
“I don’t see any particular reasons that we couldn’t be at the bottom. And I’m not trying to say that we definitely are at the bottom, but I think the unwinding that had to happen has happened. It’s been an extremely messy last month, obviously.”