Popular crypto analyst Justin Bennett updates his outlook on the two largest crypto assets by market capitalization.
Starting with Bitcoin (BTC), Bennett To tell If the flagship cryptocurrency can exceed the $ 42,000 resistance level, it could surge by up to 40%.
“This area between $ 35,000 and $ 36,000 is support and $ 40,000 to $ 42,000 is resistance. As I said recently, the market will exceed $ 42,000 to expose $ 45,000 to $ 46,000. Must be followed by a $ 50,000 to $ 53,000 resistance area. “
Now that Bitcoin is threatening to break resistance at $ 42,000, Bennett believes a strong bailout rally is on the BTC horizon.
“I will continue to like those who have big bounce ideas here over the next few weeks. It took longer than I expected, but it can happen.”
Bitcoin It is trading at $ 41,490 at the time of writing.
Next is Ethereum (ETH). Cryptographic analysts say Ethereum is trading sideways because it offers two possibilities.
“If you see Ethereum returning below this level here, [$2,500] I’m testing today and it’s going to be $ 2,200 next …
Seeing Bitcoin get $ 35,000 support and test $ 30,000 could bring Ethereum down and test $ 2,000 …
On the other hand, just above this area, if you look around $ 2,900, the next one is $ 3,100 to $ 3,200. “
Ethereum It is trading for $ 2,996 at the time of writing.
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Featured image: Shutterstock / Tithi Luadthong
