- Michael Van de Poppe says Cardano (ADA) has the potential to hit $5.
- For the ADA price to hit the $5 mark, it has to break its current $1.8 resistance level.
Crypto analyst Michael Van de Poppe has expressed his thoughts about Cardano (ADA). According to Van de Poppe, he strongly believes that ADA has the potential to record a new ATH of $5.
Specifically, Van de Poppe gave his ADA thought in a Youtube video description. Also, Van de Poppe said that ADA is still stronger. Even amid the ongoing crypto market crash, it is stronger than BTC and many other altcoins.
More so, Van de Poppe added that if Cardano breaks its $1.8 price resistance level, it can easily surge up to $3.35 mark. If this happens, then ADA will have the free will to hit the $5 mark.
Van de Poppe explained,
If we do have this break above $1.80 you can use the Fibonacci extension to derive the next target zones which are $3.35 and $5.00.
In addition, he said if we get this break into the upside, if Bitcoin is going to find its bottom formation here, we can start targeting these two target zones here. “So, there’s upside to be expected, and not everything is bad in the markets,” Van de Poppe noted.
Continuously, Van de Poppe stressed that Cardano should hold about 4,000 satoshis support of the ADA/BTC pair. Furthermore, doing this will possibly help ADA to maintain a constant momentum against the flagship currency Bitcoin in terms of market capitalization.
At the time of writing, Cardano price is $1.78 with a 24h trading volume of $4,879,586,091, according to CoinGecko.