Bitcoin’s price has risen above the $56,500 and $57,000 resistance levels, signaling a bullish trend. BTC price is currently consolidating around $58,000, with the possibility of more gains. In the short term, a break above $60,000 might kick-start a stronger rally.
Furthermore, the majority of big altcoins are showing signs of further gains. ETH’s rally continued, and it broke through the main $3,000 barrier. The price of XRP/USD has settled above $1.50 and is expected to rise further.
Cardano (ADA), Litecoin (LTC), and Zilliqa (ZIL), according to popular crypto strategist and trader Michael van de Poppe, are almost ready to reach the next step of their bull cycles.
According to him if we possibly break through the range high, then we can see a new impulse wave and begin to run again. He also says that we should be mindful that we have a [resistance to support] flip of this stage at 0.0000235 in a new impulse wave. If that happens, we should expect things to continue in general.
Looking at the long-term chart, the trader claims that the ADA/BTC bull market is still in its early stages, and that the pair still has a lot of upside potential.
Van de Poppe believes that a violation of the ADA/USD pair’s immediate resistance would propel Cardano to as high as $2.40.
The crypto strategist is also keeping a close eye on Litecoin Price (LTC/BTC), which he believes is on the verge of a 65% rally toward Bitcoin. After taking a big hit during the recent market crashes, the price of Litecoin is showing signs of life.
“Litecoin looks great for a bullish impulse wave.”
Zilliqa, a blockchain for corporate solutions, is another coin on Van de Poppe’s radar. ZIL Price (ZIL/BTC) is in a deep uptrend, according to the trader, and it is now poised to benefit over 120% from its current price of 0.00000363.
“We are ready to make a new run as we just held the previous low, the crucial level of support, and we’re about to break the new high. I think we’re going to run through 500 satoshis (0.00000500) and we’re going to make a runner towards 800 satoshis (0.00000800).”