In a video titled ‘Will Cardano do the same as Ethereum in 2016’, crypto analyst Michael van de Poppe unveils Cardano’s (ADA) potential towards increased price action past $20. In anticipation of the altcoin’s next bull run phase, Poppe emphasizes that the ADA/USD pair must hold a key level in order to sustain its upward price action.
Cardano Has the Potential to Accelerate by 4 Times
Noted crypto analyst, Michael van de Poppe highlights that Cardano is currently at a critical level, saying:
“Right now, we do get some critical levels that we have to hold in general for Cardano which is this entire region around $0.90. We got higher highs. We got higher lows. So this is currently ($1.10) the critical level to hold on to. This is the obvious one. If that is lost, we can still assume that $0.90 is the next level. But that should be the low.”
The experienced crypto trader tells that ADA/BTC is still consolidating, but it must hold a critical support area for its next upwards price action:
“As long as it stays above in this green zone (0.00001780), so we get an accumulation like this, it is ready for the next big move. As long as it does not break this level (0.00001780), the USD value will not drop to $0.70 or lower.”
Even though, both ADA/USD and ADA/BTC pairs are still in the accumulation phase, Michael van de Poppe believes that both the pairs have the potential to accelerate by as much as 4 times.
ADA Could Skyrocket to $20
Before the bull run comes at a standstill, Cardano has the potential to skyrocket to $20, representing gains of over 1,500% from its previous all-time-high over $1, according to Michael van de Poppe.
Recently, Charles Hoskinson, the founder of Cardano, has mentioned that Cardano (ADA) could rally past $10. However, Michael van de Poppe predicts a breakout to $20 for ADA.
Cardano was trading at $1.31 yesterday, up 10.95% from its previous day. It was the largest one-day percentage gain since March 16, 2021.
The move upwards pushed Cardano’s market cap up to $41 billion, or 2.07% of the total cryptocurrency market cap. At its highest, Cardano’s market cap was $43 billion. Currently, Cardano is trading at $1.18, down by 1.55% for the past 24 hours.