Cryptocurrency analyst Michaël van de Poppe has commented on the potential buy prices for Ethereum (ETH) and Cardano (ADA) after the recent surge of smart contract platforms
Van de Poppe said that Ethereum is now heading towards its next resistance at $3,500 after managing to climb to its first four-month high.
Van de Poppe warned investors that Ethereum could correct if the leading smart contract platform fails to break the resistance at $3,500. On the other hand, Jamie Coutts, a crypto analyst at Bloomberg, thinks that Ethereum has not yet realized its potential. Coutts predicted that the price of the altcoins engine would rise 100%. Mentioning that Ethereum has a unique mix of equity, commodity and monetary features, the analyst pointed out that the price of $ 6,128 is the value that the altcoin should be.
Ethereum (ETH) is priced at $3,147 at the time of writing, with a 24-hour trading volume of $7,821,939,752. ETH price is up 1.1% in the last 24 hours.
As for Cardano, Van de Poppe said that ADA rallied in the short term before making any significant corrective moves. Poppe said:
“It seems very likely that we will be sweeping the highs here, as this resistance point is bearish and then we make a corrective move towards $0.95 as people are still willing to take profits from positions. In that sense, I don't expect a continuation yet... We're going to find ourselves a retest for a low or potentially a higher bottom."
Cardano (ADA) was priced at $1.13 at the time of writing, with a 24-hour trading volume of $1,009,966,329. The ADA price has increased by 0.6% in the last 24 hours.