Crypto analyst and trader Michaël van de Poppe took it to Twitter to talk about the crucial price levels for Bitcoin, Ethereum and Cardano as the broader crypto markets begin to flash signs of strength.
“Bitcoin clearly broke $35,000. Good news! Now, I’d like to see it hold as support in order to continue moving to $38,000.
Preferably even without a retest and just continuation towards those next levels.
Overall -> good signals on the markets.”
As for the broader altcoin market, Van de Poppe says the total market cap of all altcoins may be carving a bottom around support of $600 billion.
“The total market capitalization of altcoins might be bottomed out here.
However, it has to break through a critical resistance of around $800 billion.
If that breaks, the altcoins market cap can run to $1 trillion again.”