The well-known cryptanalyst Mikael van de Poppe analyzed the two key virtual currencies in the cryptocurrency market, bitcoin and Ethereum, and talked about their vital support and resistance levels. According to the expert, it is challenging to give a reliable forecast of future developments, but he tried to do it.
According to the analyst, a fundamental level for Ethereum, in terms of technical analysis, is $950. At the same time, he assured us that in the foreseeable future, the value of a virtual coin must overcome two critical barriers. One of them is at $1140. If the ETH rate can conquer this figure, traders will very soon see a price around the $1500 area.
As of 12:55 Moscow time on July 15, 2022, Ethereum was trading at $1219.45, up 12.29% over the past day. Many experts pointed out that van de Poppe was right in giving his prediction only a few hours ago.
The strategist also touched upon the course of the flagship cryptocurrency, bitcoin. He said the global cryptocurrency market had been hit hard, with the recent capitulation phase exacerbated by Terra (LUNA) and Celsius (CEL) collapse. However, he is waiting for the BTC price to rise.
For the cryptocurrency rate to reach $30,000, it must overcome the resistance at $22,000 and grow by about 35-40% of this value. According to van de Poppe, such a development of events is quite realistic if there is no negative news background in the coming days.
The Bitcoin exchange rate was around $20,902, which is 5.55% higher than yesterday at the time of writing the news.
