Michaël van de Poppe: Plume can reach new peaks

Analyst Michaël van de Poppe expects the Plume price to recover after a sharp drop to $0.01210. In his view, Plume is heading towards a resistance zone around $0.01290 to $0.01300. If a support level forms there and the zone around $0.0122 to $0.0124 is confirmed as support, he sees new price highs for Plume within a few weeks.

Plume is available at OKX and Bybit.

In brief:

• Plume dropped to $0.01210 and quickly recovered afterwards
• Van de Poppe sees resistance around $0.01290 to $0.01300
• A confirmation of support around $0.0122 to $0.0124 is, in his view, the key to new price highs

Sharp drop and recovery at $0.01210

The Plume price briefly fell to the level of $0.01210, but then recovered quickly. Michaël van de Poppe indicates that this recovery is in line with his expectation and that the coin is now on its way to the next resistance zone.

On the chart, the price previously rose towards $0.01390 to $0.01420, after which a pullback followed. The green zone on the chart points to a support area that previously served as a bottom.

Resistance and possible new highs

Van de Poppe expects Plume to form resistance at $0.01290 to $0.01300 in the coming period. That level is visible on the chart as a horizontal line directly above the current price.

If the coin then manages to turn the zone of $0.0122 to $0.0124 from resistance into support, which is called a support-resistance flip in technical analysis, he expects the price to rise further towards new highs. It must be stressed that this is an expectation, not a certainty.