Cyrpto Michaël, one of the popular names in the social media, commented on some of the most curious cryptocurrencies with his video. The analyst studied the charts of Bitcoin (BTC), Ethererum (ETH), Swipe (SXP), Chainlink (LINK) and Tezos (XTZ) and commented on their future.
Bitcoin price has dropped to $ 11,172 in the past 24 hours. Cyrpto Michaël commented on the future of BTC on the curiosity of both investors and market followers. This fall of BTC, which lost the support zone around 11,200, seemed inevitable, according to the analyst. Saying that such drops are a ‘buy’ call for the investor, Michaël argues that the most logical move would be to buy when the price is low, as he predicts the Bitcoin price will rise. Cyrpto Michaël also mentions that after the decline, the value at which BTC can bounce again could be around 11,600 – 11,800.
Saying that the next resistance zones for BTC are waters 11,500 – 11,600, the analyst predicts that if BTC fails to cross this band, it may again fluctuate downward. Cyrpto Michaël argues in the video that Bitcoin could stay between $ 11,100 and $ 11,400 for a while. In the good scenario, according to Michaël, if BTC exceeds $ 11,400, the target could be $ 12,000 again. However, if BTC cannot exceed $ 11,400, the likely target for the leading coin is between $ 9,900 and $ 10,200.
Ethereum, which managed to increase its value above the $ 440 level, entered a rapid downward trend last weekend and its price fell to the $ 380 band. Although it recovered at the beginning of the week, ETH price saw $ 370 yesterday. Cyrpto Michaël said in his video that Ethereum fell as far as the support zone and emphasized that ETH should hold on to this region. The analyst argued that if it fails to stay in this zone, the ETH price will drop to $ 310. Stressing that the waters of $ 385 for ETH are the resistance zone, Michaël explained that we may encounter a W chart with a double bottom value. If the analyst-awaited W chart is complete, the next target for ETH could again be above $ 400.
Swipe (SXP), Chainlink (LINK) and Tezos (XTZ)
In the video published on Cyrpto Michaël Youtube channel; He said that the SXP was going as planned, and after facing resistance at $ 2.4, he was on a bullish rally again. Stating that the next resistance zones for SXP could be $ 2.8 – $ 2.9, the analyst mentioned that a chart down to $ 2.5 can be observed from here. However, he added that the SXP is easily targeted at $ 3.5 within the 2.9 resistance zone.
The analyst made promising statements for LINK, which managed to be among the 5 most valuable cryptocurrencies. He had previously said that LINK should not lose the $ 12.5 level and LINK managed to stay above this level. Michaël said if LINK breaks the next resistance zone at $ 16.5, the next target will be $ 18.5.
The famous analyst also touched on Tezos, who lost about 11% in the last 7 days. Cyrpto Michaël said that Tezos should keep the $ 3- 3.30 band and can see $ 4 if he is successful.