Top Trader Updates Outlook on Ethereum Rivals Cardano and Fantom, Says Bitcoin Must Hold $23,000 to Avoid Larger Pullback

After the Federal Reserve hiked interest rates by a quarter of a percentage point, a widely-watched cryptocurrency analyst has weighed in on Bitcoin (BTC), Cardano (ADA) and Ethereum (ETH) rival Phantom (FTM). ) is updating its outlook.

Crypto strategist Michael van de Poppe in new strategy session video To tell His 163,000 Youtube subscribers say that if Bitcoin fails to hold the critical $23,000 support level, King Crypto is likely to drop nearly 10% from its current value.

What do we know about price action at this point? Volatility is insane at this stage with the support bounce at $22,400.

We took a high on this rally and are now rejecting it again at the previous high. This ultimately leads to further declines, marking $23,000 as a key indicator to watch.

Must stay above $23,000. If you don’t hold $23,000, correct towards $21,200. ”

Bitcoin is worth $23,532 at the time of writing.

Also Van de Poppe To tell His 646,600 Twitter followers point out that Cardano is showing no upward strength. If there is a correction, he sets the lower support level at $0.35.

We are not seeing any strength so far. We are looking at cases where we want to look long around $0.35 if a correction occurs or if the $0.42 area flips for support.

Cardano is trading at $0.40 at the time of writing.

Finally, he To tell Fantom is approaching the higher timeframe resistance level of $0.66 and may drop to $0.50 before rebounding.

Higher timeframe resistance is approaching here as we are closing the gap.

Fantom is worth $0.64 at the time of writing.

I

Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook and telegram

Surf The Daily Hodl Mix

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Generated image: In the middle of the journey