The market capitalization of all cryptocurrencies is now $2.19 trillion, up 4.0 percent in the last 24 hours. Cryptocurrency prices rose just as Bitcoin surpassed $45,000, a gain of more than 15% since March 11. Ethereum was trading at $3,298.46 in the previous 24 hours, up 4.7 percent, while Dogecoin was trading at $0.148578, up a stunning 8.3 percent.
Following the recent increase in Ethereum (ETH) and Cardano (ADA), crypto expert Michal van de Poppe is laying out the various price pathways for the smart contract platforms.
Van de Poppe says to his YouTube subscribers in a new video that Ethereum is now en route to its next resistance above $3,500, after printing its first higher high in four months.
However, Van de Poppe warns that if Ethereum fails to break through resistance at $3,500, the dominant smart contract platform may see certain pullbacks.
He says what you plainly want to see is that we begin to acquire strength, and instead of crawling uphill, we begin to accelerate even more. In that situation, we can start taking those highs as well, and if we don’t see obvious continuations of strength at that point in time.
At the time of writing, ETH is trading at $3,305 up by 5.2% in the last 24 hours. The resistance is at $3310 and the support is at $3000.
In the case of Cardano, Van de Poppe believes the cryptocurrency would gain in the short term before undergoing a severe correction.
He says it appears very likely that we’ll sweep the highs here ($1.30), have a bearish divergence, and then have a corrective move back towards $0.95, as people are still keen to make gains from the positions that they’ve been building up. In that sense. Before we can start moving forward, we’ll need to find a re-test of the bottom, or possibly a higher low.
At the time of writing, ADA is trading at $1.17 up by 2.6% in the last 24 hours. The resistance is at $1.5 and the support is at $1.