Widely followed analyst Michaël van de Poppe is assessing three crypto assets for potential entry points while laying out his price targets.
The trader tells his 612,900 Twitter followers that enterprise-solution blockchain Zilliqa (ZIL) could possibly break out toward the $0.05 level if it can find support above $0.0375.
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“A play I’d be looking at if we can get a clear retest.
Personally would be looking at $0.0355 – $0.0375 for longs and then targeting around $0.048.
Or a flip of $0.048 would do.”
At time of writing, Zilliqa is down 5.25% over the last 24 hours, changing hands for $0.0396.
Next on the analyst’s list is leading smart contract platform Ethereum (ETH). He looks at ETH on the Bitcoin (BTC) trading pair when accounting for a high time frame (HTF) and also points out the possibility of a bullish divergence, a metric where a lower low appears on the price chart but then a corresponding indicator shows a higher low.
“Looking at new support now on HTF based.
Expecting to see a retest at 0.058 BTC or even 0.063 BTC – 0.065 BTC if bullish divergence continues to play out.”
Ethereum is currently worth 0.050007 BTC, or $1,063, down 6.19% over the last 24 hours.
The last coin on the trader’s radar is enterprise-grade blockchain platform Fantom (FTM). Van de Poppe says he’ll be watching the altcoin over the long term while noting it could more than double from current levels by breaking past several key resistance points.
“Let’s look at the higher time frames.
Needs to break $0.34 and then $0.54 and $0.68 are open.”
Fantom is currently down nearly 7% over the last day, trading for $0.25.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Ongky Ady Widyanto/karnoff/Sol Invictus
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