Analyst Michaël van de Poppe warns of decline in the rates of five altcoins

What’s new? Cryptocurrency analyst Michaël van de Poppe has shared his prediction on the movement of the rates of five altcoins. He found that the tokens Cardano (ADA), Avalanche (AVAX), Polygon (MATIC), Fantom (FTM), and Zilliqa (ZIL) faced resistance and warned of a possible decline in their rates.

Analyst about ADA. Van de Poppe reported that the rate of the native token of the Cardano blockchain looks strong but faces resistance at $0,45. The expert suggested that if ADA breaks this mark, a rise to $0,67 is possible. In this, Van de Poppe noted that he would prefer long positions around $0,48.

As of July 22, 11:50 UTC, ADA is trading at $0,5, having gained 4,94% per day, according to cryptocurrency exchange Binance.

Request 01 - $ADALooking strong here, but at resistance.If we crack through, I'm assuming we'll see $0.67 next, but I'd preferably want to long or seek for longs around $0.48 region. pic.twitter.com/TjVTRvWK3H— Michaël van de Poppe (@CryptoMichNL) July 20, 2022

Analyst about AVAX. The token of Avalanche, a decentralized platform, is facing resistance similar to the rest of the crypto market, van de Poppe writes. AVAX’s resistance is at $25,22.

The token is trading at $ 25,38, the asset’s rate increased by 7,61% per day.

Request 02 - $AVAXStill looking at a scenario like this as the entire market is facing resistance at this point (at least a bit overextended).Same goes for $AVAX. pic.twitter.com/AfH9rTYHmy— Michaël van de Poppe (@CryptoMichNL) July 20, 2022

Analyst about MATIC. According to Van de Poppe, the rate of the native token of the Polygon network could fall substantially from its current price. The expert himself considers a range of $0,73 for long positions.

MATIC is trading at $0,91, having gained 5,02% per day.

Request 04 - $MATICI'd be looking at regions around $0.73 for longs.Already mentioned earlier that it was overextended around $1. pic.twitter.com/2nRm5MHytN— Michaël van de Poppe (@CryptoMichNL) July 20, 2022

Analyst about FTM. Van de Poppe expects the current correction of the token’s rate of Fantom, a smart contract platform for dApps to continue. He predicted a drop in the price of FTM to $0,29.

The asset is trading at $0,34, its rate is up by 10,11% per day.

After a big impulse, there's usually a substantial correction.The same goes for $FTM.A significant run and momentum are upwards, but corrections take place during such a momentum.Now, regions for longing are found overall and could be played. pic.twitter.com/X4nSQFdjGW— Michaël van de Poppe (@CryptoMichNL) July 21, 2022

Analyst about ZIL. The expert also allowed the possibility of a decline in the rate of the token of the Zilliqa blockchain. Van de Poppe called the $0,0375 and $0,041 marks as potential levels for buying and $0,05271 as a resistance level for sale. In such a scenario, the yield could be around 30%.

ZIL is trading at $0,042, having gained 5,34% per day.

Request 03 - $ZILThis one looking for some dip plays here around $0.0375 or potentially looking at $0.041 for a new possible trade.That could be a trade towards $0.052. pic.twitter.com/SMMAnoDk4T— Michaël van de Poppe (@CryptoMichNL) July 20, 2022

Michaël van de Poppe previously stated that Binance Coin (BNB), MATIC, THORChain (RUNE), and FTM tokens have the potential for rapid growth.