crypto strategist Justin Bennett He analyzed the current situation in the crypto markets and shared his views on the status of Bitcoin, Ethereum, Dogecoin, VeChain and Verasity after the aggressive pullbacks in the markets.
In the current market where Bitcoin is often at risk of falling below $60,000, Bennett said: bitcoinHe noted that there was a “confluence” at the $55,000 level, but the analyst noted a different level.
“It has a (ton) confluence of around $55,000. However, September Bear in mind that the bearish high of $53,000 could also play an important role. The main resistance points above $60,000 are currently seen at $63,6000 and $67,000.”
EthereumAs for; Bennett thinks Ethereum should not fall below the critical level of $3,900 right now.
“If we get a ‘signal’ below $3,900, I will examine the $3,700 area.”
According to the analyst, unless the daily close of ETH/USDT secures the close of $4,370, it is very difficult for it to experience a breakout.
dogecoin (DOGE) broke above new support around $0.23. However, as the analyst tests lower levels DOGE He said it might not be the best time to buy.
“Today’s rally needs to close inside Tuesday’s range for it to be truly considered a bullish signal. Tuesday’s low was $0.2520, so that’s the actual level to close above.
If DOGE can make it through, it would indicate that the market is returning to the $0.27 resistance. If it fails, the pointer falls back to $0.23 support.”
Bennett, VeChain (VET) On the other hand, after showing a rapid decline of about 21% in the last few days, he expects his next move to depend on BTC. If BTC hits the bottom, he thinks VeChain’s resistance level will fall back to $0.155.
If BTC makes a “deep correction” to $53,000, VET price could stay in the $0.10 to $0.11 range. If the current BTC price is already a bottom, VET must maintain its current level and return to the $0.155 resistance.
Bennett also Verasityof (VRA) is waiting for a pullback during a rally after the $0.05 break.
“If VRA/USDT pulls back to the $0.055–$0.065 support area, it could present a positive buying opportunity. Key resistance is $0.085.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.