While technical analyst Justin Bennett predicts big gains for Cardano and other altcoin projects, he thinks Bitcoin still looks “pretty good” amid the market downturn.
Price predictions for Bitcoin, Cardano and 2 altcoins
In his recent market analysis, Bennett focused on Bitcoin’s recent “aggressive” pullback to $63,000. He said Bitcoin’s current drop is a cleanup:
Bitcoin got rid of a lot of leverage with an aggressive pullback to $63,000. The extended pullback here certainly doesn’t fit the 2017 fractal I’ve discussed several times. But that doesn’t mean it won’t happen.
After looking back at the BTC charts, Bennett tweeted in a more optimistic tweet:
Bitcoin is still looking pretty good here and there is a ton of support above $60,000. HH and HL levels are key. So far, all is well for BTC.
Cardano price prediction
Also referring to Cardano, Bennett predicts that the local cryptocurrency of the global payments blockchain platform will soon reach above $3.00.
ADA reclaimed $2.15. So this is now an important support area. If we get $2.35 on a daily close basis, I think ADA could bring in $3 or more.
Ethereum (ETH) price prediction
As for Ethereum, Bennett believes the second-largest cryptocurrency by market cap could surpass $6,000 before December:
ETH is showing a nice step formation. A daily close below $4,600 could cause weakness. I think there is a chance of reaching 6,000 – 6,500 in November, but only if this rally is permanent.
Like Cardano, Chainlink targets critical resistors
cryptocoin.com Bennett, whose analysis we have shared, predicts that the second leg of a “two-stage break” continues:
LINK continues step two with a great debut and will be confirmed by today’s closing.
VeChain (VET) price predictions
Lastly, speaking of VeChain (VET), Bennett explains his views on the enterprise solution-oriented platform:
VET is testing the $0.155 zone as support. A daily close below this will reveal $0.14. The area just below $0.19 remains resistance for VET/USDT.
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