After the recent market crash, bitcoin was able to maintain its price of over $20,000 and even rose as high as $21,000. The gains for the altcoins have also been impressive over the last day, with XRP taking the lead after gaining 12 percent in the last 24 hours.
The bulls have been attempting to regain some of BTC’s lost territory following last week’s severe fall, which resulted in an 18-month low at $17,500 on Sunday. The majority of altcoins are still working to make up for some of their recent losses.
After another 8.5 percent daily climb, Ethereum today appears to be well beyond the $1,200 threshold where it had been struggling for some days.
Michael van de Poppe, a well-known analyst, is evaluating three cryptocurrency assets for possible entry points and laying out his price targets.
Zilliqa
The trader claims that if enterprise-solution blockchain Zilliqa (ZIL) can establish support above $0.0375, it may break out toward the $0.05 level. Personally, he would target about $0.048 and would be looking at $0.0355 to $0.0375 for longs.
Ethereum
Leading smart contract platform Ethereum is listed next by the analyst. When taking into account a high time frame (HTF), he examines ETH on the Bitcoin trading pair and highlights the potential for a bullish divergence, a metric where a lower low appears on the price chart but a comparable indication displays a higher low.
He is currently considering new HTF-based support. If bullish divergence persists, anticipate a retest at 0.058 BTC or even between 0.063 and 0.065 BTC.
Fantom
Enterprise-grade blockchain platform Fantom is the last coin on the trader’s radar (FTM). Van de Poppe says he’ll be keeping an eye on the altcoin in the long run, noting that by breaking through multiple crucial resistance areas, it might more than double from current levels.
“Let’s look at the higher time frames. Needs to break $0.34 and then $0.54 and $0.68 are open.”