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Widely followed cryptocurrency analyst Michael van de Poppe has updated his outlook on XRP (XRP) and VeChain (VET).
popular analyst To tell His 643,300 Twitter followers say payment solution XRP could plummet by more than 22% if it fails to recover key levels quickly.
“This looks a bit strange because we saw a hard rejection at $0.370. We hope XRP recovers the $0.343 level relatively quickly otherwise we will lose a lot of liquidity ( equivalent to Bitcoin). Massive support at $0.265.”
As of this writing, XRP is trading at $0.341.
Then he To tell VET is on a downward trajectory. But if blockchain for enterprise solutions can rise above the price point that matters, there’s a slim chance of a bullish reversal, he says.
“This is clearly trending down. , the trend remains downward.”
At the time of writing, VET is valued at $0.015.
He also analyzes Bitcoin (BTC) support and resistance levels in a new strategy session video. He has told his 164,000 Youtube subscribers that a rally to $17,700 is possible, and if it falls he will likely be at the new support level of $15,800.
“At the moment we are about to break to the upside, the resistance at $17,400 will be very clear. The same is true for $17,700. I think most of us are heading towards these levels.
On the downside, there are several levels of support. First of all, this area is $16,600 and bounced around a bit. $16,400 is more significant. Then, looking at the structure as a whole, if the downtrend continues, the next support could be $15,800. “
At the time of writing, Bitcoin is worth $16,558.
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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.
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