Most of the digital assets are trading in the green today following a pretty bearish week.
There have been all kinds of predictions popping up in the crypto space, and the latest ones just arrived from an important crypto trader and analyst.
Bitcoin (BTC) and Ethereum (ETH)
The popular crypto trader and analyst Michaël van de Poppe said that the correction for Bitcoin and Ethereum is not over yet, and we should expect more price drops.
Van de Poppe posted on Twitter that BTC is well-positioned to drop to $9,500, and this will happen because the bears have managed to build and hold one resistance after another.
Regarding this one, still a basic approach.
Every level of resistance gets a confirmation, similarly with the current resistance zone (Red block).
If that breaks, $11,200-11,400.
However, reversing here and I target $9,500-9,800 as a potential cycle low. pic.twitter.com/VUSr6Qvwod
— Crypto Michaël (@CryptoMichNL) October 5, 2020
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $10,856.75.
The analyst is also bearish on Ethereum in the short term, and he said that the coin could drop 25% from the current price.
Further downwards momentum to expect here.
The crucial area that I’ll be interested in is $250-280.
Since a while, actually. pic.twitter.com/lH4NvoF9Xq
— Crypto Michaël (@CryptoMichNL) October 6, 2020
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $349.43
Cardano (ADA) and VeChain (VET)
The analyst continues and drops some predictions about these coins as well.
Here’s what he has to say about ADA:
A slow bleed wouldn’t surprise me here for the markets.
They will provide massive opportunities regardless. pic.twitter.com/rVRo7H6jfU
— Crypto Michaël (@CryptoMichNL) October 5, 2020
At the moment of writing this article, ADA is trading in the green, and the coin is priced at $0.095559.
Regarding VeChain, he says that the coin will probably bleed by 20% from its current price.
VET is also trading in the green, and it’s priced at $0.010946.
