Cryptocurrency trader Justin Bennett reveals where Bitcoin (BTC), Ethereum (ETH), and the two altcoins are heading in the coming days and weeks.
Starting with Bitcoin, Bennett To tell His 7,820 YouTube subscribers will face the first resistance level of $ 45,600 if the flagship cryptocurrency continues to rise.
According to Bennett, Bitcoin could exceed $ 50,000 when the resistance level of $ 45,600 becomes a support area.
Bennett says Bitcoin could surge more than 35% from its current level by the end of the year if a “more bullish scenario” is realized.
“Looking at Bitcoin over $ 45,600 and testing $ 53,000 and even $ 50,000 here, we can successfully set the opposite head and shoulders over $ 60,000 later this year.”
Cryptocurrency analysts and traders say they are bullish on Bitcoin as long as prices “beyond the $ 40,000 to $ 42,000 range”.
Bitcoin It is trading at $ 43,809 at the time of writing.
Looking at Ethereum, Bennett says that the current resistance level of the second largest cryptocurrency by market capitalization is about $ 3,170 and the next cryptocurrency is about $ 3,600.
“Rotation to $ 3,170 should cause bounces and attract buyers. Currently, the next resistance area to monitor Ethereum will be around $ 3,600.”
According to Bennett, Ethereum needs to close at a price above $ 4,000 on the weekly chart to see the bullish trend.
“Now, $ 4,000 will be a big test for Ethereum …
I have to go back to the top of this area [$4,000] To turn bullish again. “
Ethereum It is trading at $ 3,358 at the time of writing.
Next is the CRO, native token Crypto.com A cryptocurrency platform that offers a wide range of consumer services and products, including blockchain, payments, crypto exchanges, crypto wallets, debit cards, and decentralized finance.
Bennett says the CRO must first break above the $ 0.50 resistance level on the daily chart in order to be bullish in the short term.
“Therefore, the CRO should return above $ 0.50. Therefore, this will probably create a confluence of resistors between $ 0.50 and $ 0.53, and the CRO will return to support for $ 0.65. You have to exceed this every day to publish.
Therefore, $ 0.65 is the next level of resistance beyond that $ 0.50 to $ 0.53 range …
The market must rise above $ 0.50 to $ 0.53 to turn bullish again to $ 0.65.
If you see a lower rotation from this area [around $0.48]Notice its $ 0.40 support. “
The CRO is trading at $ 0.486 at the time of writing.
Next is the native token of VET, VeChain, Enterprise Supply Chain Management Blockchain.
VETs could rise to $ 0.12, according to Bennett, but below $ 0.065 could signal the beginning of a bearish trend.
“VET still has to return above this area for around $ 0.088. Well, if it closes above this, [$0.088], Here it could rise towards $ 0.10. This will be the next important level …
Around $ 0.09 just above this area, you’ll probably see $ 0.10. Above that is the area just above $ 0.12 …
VET essentials will range from about $ 0.06 to $ 0.065. We want the area to withstand on a daily and weekly closing basis.What’s under this [$0.06], Things can get ugly. “
VET is trading at $ 0.082 at the time of writing.
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