• Crypto analyst, Michaël van de Poppe, shared valuable observations regarding potential levels of reversal for Ethereum (ETH), Binance Coin (BNB), and Litecoin (LTC).
• Van de Poppe’s analysis emphasizes crucial price levels that have the potential to initiate trend reversals for these prominent digital currencies.
• According to Michael, if the market moves towards the reversal range identified by Van de Poppe, it implies a potential decline of more than 8% for this prominent altcoin.
Crypto Analyst Reveals Reversal Levels
Crypto analyst, Michaël van de Poppe, recently highlighted valuable insights regarding possible levels of reversal for Ethereum (ETH), Binance Coin (BNB), and Litecoin (LTC). He emphasized key price points with the potential to trigger trend reversals for these major cryptocurrencies.
Ethereum’s Potential Downward Movement
Van de Poppe expressed worry about ETH’s capacity for further downward movement unless it manages to stabilize around $1,785 support level. If the market shifts toward the reversal range pointed out by him, it may result in an 8% decline in value for this popular altcoin.
Binance Coin’s Trajectory Towards $200
Analyzing BNB, which serves as utility token for the largest crypto exchange worldwide, Van de Poppe noted that its failure to sustain support at $270 suggests a likely trajectory towards $200 where a possible reversal may occur. Placing bids at this range may be beneficial if the market continues weak performance.
Litecoin Reversal Zone Identified
In his analysis of Litecoin (LTC), Van de Poppe suggested that correction phase might be close to completion. He identified $70-$73 as a zone where LTC could potentially reverse its trend of decline and experience rapid growth upon securing support in this area.
Van de Poppe’s observations provide valuable insight into possible levels of reversal when trading these major digital currencies amid an altcoin correction period. Investors should consider such data before making any decisions concerning their investments in cryptocurrency markets.