Popular crypto analyst Michaël van de Poppe shares important insights about Covalent (CQT) and Media Licensing Token (MLT). Van de Poppe analyzes the critical resistance levels and potential breakout scenarios for these two promising tokens.
Covalent (CQT) is currently at a crucial point, struggling with its last resistance zone. According to Van de Poppe, a breakout between $0.225 and $0.26 could indicate the end of an eighteen-month accumulation phase and initiate a new era for CQT.
Van de Poppe also highlights the descending levels to watch out for. A dip into the range of $0.16 to $0.18, especially if it results in a Support/Resistance (S/R) flip, can present an interesting opportunity.
For Media Licensing Token (MLT), Van de Poppe is observing the technical analysis patterns. The token is currently holding above $0.108 and showing signs of progress towards the resistance zone between $0.18 and $0.23. This positive momentum aligns with the TA narrative and indicates potential upside for MLT.
Van de Poppe emphasizes significant developments beyond technical analysis for MLT. The analyst notes that the introduction of LP staking provides an additional participation layer for token holders and increases token usage, attracting more participants to the ecosystem. Additionally, the development of the MILC Metaverse Social Community and the upcoming developments indicate an active and evolving social community around the MLT altcoin.