Popular crypto analyst Michaël van de Poppe provided important insights today about Covalent (CQT) and Media Licensing Token (MLT). The analyst shared his predictions while navigating critical resistance levels and showcasing potential breakout scenarios for these two promising tokens. Let’s take a look at Poppe’s analysis.
Covalent (CQT): Breaking Through the Final Resistance Barrier
The cryptocurrency Covalent (CQT) finds itself at a crucial point as it battles with the last resistance zone. According to Van de Poppe, a breakthrough in the range of $0.225 to $0.26 could indicate the end of an eighteen-month accumulation phase. This potential breakout could initiate a new phase for CQT.
The analyst also highlights downward levels. A drop to the range of $0.16 to $0.18, especially if it leads to a Support/Resistance (S/R) flip, could present an interesting opportunity.
Media Licensing Token (MLT): Following the Path of Technical Analysis
When it comes to Media Licensing Token (MLT), Van de Poppe observes a commitment to technical analysis (TA) patterns. The token is currently holding above $0.108 and shows signs of continuing towards the resistance range of $0.18 to $0.23. This positive momentum is in line with the TA trajectory and indicates potential upward movement for MLT.
Beyond technical analysis, Van de Poppe highlights significant developments for MLT. Firstly, the analyst notes that the introduction of LP staking provides an additional participation layer for token holders, enhancing the utility of the token and attracting more participants to the ecosystem.
MILC Metaverse Social Community has undergone improvements, and Van de Poppe suggests that there are more developments on the horizon. This indicates ongoing efforts to develop a vibrant and evolving social community around the MLT altcoin.
As both Covalent (CQT) and Media Licensing Token (MLT) navigate critical resistance levels, traders and investors are advised to closely monitor these tokens. With the potential of breakout scenarios expressed by the analyst, along with additional features and community developments, these tokens position themselves as noteworthy players in the ever-evolving cryptocurrency space. At the time of writing, Covalent is trading at $0.204 and MLT at $0.145.
