Michaël van de Poppe Reveals Key Reversal Levels for Ethereum, Binance Coin, and Litecoin
The post Michaël van de Poppe Reveals Key Reversal Levels for Ethereum, Binance Coin, and Litecoin appeared first on Coinpedia Fintech News
In a recent video update, renowned crypto analyst Michaël van de Poppe provided valuable insights into potential reversal levels for Ethereum (ETH), Binance Coin (BNB), and Litecoin (LTC) amidst the ongoing altcoin correction. Van de Poppe’s analysis highlights critical price thresholds that could trigger trend reversals for these prominent cryptocurrencies.
Ethereum (ETH)
Starting with Ethereum (ETH), the analyst emphasizes the significance of the $1,785 support level. Failure to sustain this level may lead to further downside for ETH, possibly resulting in a retest of the $1,600 area. Such a scenario would mark a reversal in the price trend, potentially resulting in an over 8% decline for Ethereum, which is currently trading at $1,751.
Binance Coin (BNB)
Shifting the focus to Binance Coin, Van de Poppe highlights the critical importance of the $270 support level. The token’s inability to remain above this threshold suggests a potential downturn toward the $200 mark, where a reversal could occur. He notes that bids in the $200 range may become relevant if the market continues to exhibit weakness. At the time of writing, BNB is valued at $237.
Litecoin (LTC)
As for Litecoin (LTC), the analyst suggests that the correction for this peer-to-peer payments network might be nearing its end. He identifies the range of $70 to $73 as the potential reversal zone for LTC. If Litecoin manages to find support within this range, a swift rally backup could be anticipated. LTC is currently trading at $78.78.
However, the identified reversal levels could serve as crucial indicators of potential market trends for Ethereum, Binance Coin, and Litecoin in the coming days. Traders will be keeping a close eye on whether these cryptocurrencies manage to reclaim their support levels or continue the downward correction.
