Crypto markets are recovering! The bitcoin price is trying hard to sustain above its gains, while the altcoins continue to suffer. The second largest token, Ethereum, remains under the bearish influence, due to which major altcoins are experiencing marginal losses. A popular analyst, Michael van de Poppe, maps the next target for the Bitcoin price!
The bitcoin price has been significantly pulling up in the past few days after rebounding from the monthly lows below $25,000. The analyst believes another pullback could be on the horizon, which could be a better buying opportunity for investors. However, he suggests a potential long entry could be around $26,000, which may lift the price close to $30,000 if it breaks $27,500.
“ Two levels of importance for me on Bitcoin.
Resistance at $27.5K needs to break for continuation to $30K. Most likely we will.
Potential long entries? I think around $26K is sufficient,”
Besides, the analyst also predicts the next possible move for the XRP price. The price has been manifesting acute strength in the past few days. But the accumulated bearish action dropped after being rejected at $0.5. Currently, the price is trading at $0.4743, while the analyst expects more drops to the $0.4730 region that may further trigger a fine upswing ahead.
After dropping to the lower support, the price is believed to consolidate for a while, which may offer the required boost to ignite a fair upswing. If the price manages to rise above $0.5, then a potential upswing may lift the price above $0.53.
“This scenario is still making sense.
Heavy sweep after the Hinman emails.
Expecting to see $0.47 hold as support, otherwise we’ll be seeing a case where we’ll test $0.41 to $0.42 before we’ll see some reversal or upwards movements,”
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