- Michaël van de Poppe shares his technical analysis for RSR, LINK, ADA and QNT.
- ADA is a massive long-term buy opportunity, according to the analyst.
- He adds that RSR could drop to as low as $0.0055.
The global crypto market cap is down 1.82% over the last 24 hours according to the crypto market tracking website, CoinMarketCap. Despite this, the total crypto market cap maintains its position above the $1 trillion mark.
Quant (QNT)
Quant (QNT) is up 3.08% over the last 24 hours – boosting its price up to $167.57. In addition, QNT’s price has strengthened against Bitcoin (BTC) and Ethereum (ETH) by 5.06% and 6.09% respectively.
The crypto trader, Michaël van de Poppe (@CryptoMichNL) tweeted his technical analysis on QNT yesterday evening. According to the crypto analyst, there is a potential bounce play on the cards for QNT.
QNT’s price is currently trading near the support of the previous bounce play, leaving two scenarios that can play out. Either the price of QNT rebounds back up or it will drop to $140 where the next play will happen.
Chainlink (LINK)
The price of LINK is trading at $7.92 after a 24-hour gain of 2.31%. LINK has also strengthened against BTC and ETH by 4.28% and 5.35% respectively.
Daily chart for LINK/USDT (Source: Twitter)
According to the crypto analyst, the current Risk/Reward Ratio that traders should adopt for a LINK long position is around 4.04%. The ultimate target for a long position on LINK is 26.23%.
Reserve Rights (RSR)
RSR is trading at $0.006221 and was unable to follow the trend seen with LINK and QNT, as its price has slipped 3.30% over the last 24 hours. Furthermore, its price weakened against BTC and ETH by 1.59% and 0.54% respectively.
Michaël van de Poppe suggests entering a long position at $0.0055 or when RSR’s price is able to flip the resistance level at $0.007 into support. Given the current price drop of RSR over the last 24 hours, it may be best to wait for RSR’s price to drop lower to $0.0055.
Cardano (ADA)
ADA is currently trading at $0.4016 after its price decreased 4.35% over the last day. Similar to RSR, ADA’s price has weakened against BTC and ETH by 2.48% and 1.34% respectively.
The crypto analyst believes that there is a long-term, massive buy opportunity present for ADA investors currently. He goes as far to add that ADA’s current price may be hovering at its low for this current bear market.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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