The expert called Cardano, Avalanche, Polygon, Fantom, and Zilliqa potentially dangerous coins

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

22.07.2022 - 12:15

305

4 min

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.

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.

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.

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.

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.

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

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