- The analyst expects a longer cycle with a robust correction.
- Fantom (FTM) is a scalable blockchain platform for DeFi and Dapps.
The crypto market is slowly recovering after a massive sell-off days ago. Today, Bitcoin is trying to keep $61,000, ETH is up to $4.4K, and all other cryptocurrencies are mixed. Famous crypto trader and analyst Michael van de Poppe has chimed in after most cryptocurrency markets fell this week.
Bitcoin (BTC) And Ethereum (ETH)
Bitcoin (BTC), Ethereum (ETH), and other popular altcoins are among the currencies that the crypto researcher is studying. According to Van de Poppe, price corrections are a standard component of bull market cycles.
First very important region is hit for #Bitcoin.
— Michaël van de Poppe (@CryptoMichNL) November 18, 2021
I wouldn't be surprised if we get a short term relief rally from this region, as we've just witnessed a 16-18% correction.
Same goes for $ETH. pic.twitter.com/XyOaEfSNoK
Noting that Bitcoin might fall to $48-50K while staying bullish. He expects a longer cycle with a robust correction. He then charts a “relief rally” on the BTC chart. The expert claims Bitcoin’s first and most vital area has been hit. Given the recent 16-18% drop, a short-term comeback from this location wouldn’t be surprising. He thinks the same about ETH.
Cardano (ADA)
#Cardano still correcting.
— Michaël van de Poppe (@CryptoMichNL) November 18, 2021
Possibly the hate will grow even more at this point.
That makes me interested.
We could be seeing a correction to $1.50 area, but then I think the correction is over.
On to Cardano, whose native coin ADA has fallen from $2.38 on November 8th to $1.87 today, Van de Poppe writes. The possibility of more hostility piques his interest. A correction to approximately $1.50 is possible, but he feels it is gone. According to CoinMarketCap, the Cardano (ADA) price today is $1.88 USD with a 24-hour trading volume of $1,554,156,885 USD. Cardano is up 0.06% in the last 24 hours.
Fantom (FTM)
Fantom (FTM) is a scalable blockchain platform for DeFi and Dapps. He thinks the native token FTM is trading between $1.50 and $2.00. According to CoinMarketCap, the Fantom (FTM) price today is $2.10 USD with a 24-hour trading volume of $470,855,607 USD. Fantom is down 4.41% in the last 24 hours.
VeChain (VET)
If it stays between 0.00000173 and 0.00000198, VeChain (VET), a supply chain management blockchain, might surpass BTC. According to CoinMarketCap, the VeChain (VET) price today is $0.136061 USD with a 24-hour trading volume of $529,848,419 USD. VeChain is down 2.50% in the last 24 hours.
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