Important “BTC, ETH, DOT, ALGO and VET” Predictions from Analyst!

Crypto strategist Justin Bennett comments on the outlook for Bitcoin (BTC), Ethereum (ETH) and two popular altcoins (DOT and VET). The widely followed crypto analyst highlights support levels for two popular altcoins, while predicting upcoming bounces for top cryptos Bitcoin (BTC) and Ethereum (ETH). Detail cryptocoin.com‘in.

Landscape in BTC and ETH

In a recent YouTube update, crypto trader Justin Bennett told his 8,470 subscribers that there could be a significant Bitcoin jump on the horizon. “I would expect at least a 20-30% bounce from BTC at some point in the coming weeks,” the analyst said. With Bitcoin currently trading around $38,000, a 20-30% rise means that Bennett expects BTC to reach somewhere between $50,000-56,000 in the coming weeks. Looking at the leading smart contract platform Ethereum, Bennett points out that $3,000 has been holding support recently. However, he warns that ETH could drop further before it bounces back. The analyst said, “So [ETH]of [3,000 dolar] If we see it close below, we have a chance to move towards support around $2,800, maybe $2,900, and then we will catch that bounce.”

Bennett then looks at payments and decentralized finance blockchain Algorand (ALGO), noting that even if the price drops, it could be in a bullish pattern right now. Algorand is currently trading at $1.14. Here’s what the analyst says on the subject:

We have developed this channel which could be a bullish pattern if the market can find support around $1.15 here. towards the end of January [1.15 dolarlık] If we get a retest, this will be a confluence of support around $1.15. If we catch a bounce from there, the next resistance will come here around $1.50 to $1.60.

Also, Bennett looks at enterprise solutions blockchain VeChain (VET) and states that $0.06 served as VET support last year. About VET, the analyst says:

If we see VeChain close below $0.07, keep your eye on the $0.06-$0.065 range. Because this will be a necessity for buyers… and it can create a suitable buying opportunity. I think any rotation between $0.06-0.065 could produce a healthy bounce.

VeChain is trading at $0.0631 at the time of writing.

How is the landscape for DOT?

Popular crypto analyst Bennett says there is a strong break on the horizon for interoperability blockchain Polkadot (DOT). In a recent strategy session, Bennett says that Polkadot’s price action has fluctuated as it is trading within a bullish continuation pattern. Analyst says:

The fact that this is a falling wedge, which is a bullish pattern in nature, and also the fact that the market is in a macro uptrend, I have reason to believe this is much more likely to break out than bearish.

According to Bennett, it sees Polkadot ending its short-term downtrend. The crypto analyst, looking at potential targets for Polkadot, believes the DOT could potentially ignite a 78% surge once it removes the diagonal resistance of the wedge. Analyst “Will the market break higher? Personally, I think there is a very good chance, and if it does, here is the area I will aim for. The first is $32, $38, and $45,” he says. At the time of writing, Polkadot is trading at $21.86. While Bennett is in a long-term bullish trend on the DOT, he sees the crypto asset recovering significantly in the coming days before it rallies and hits its targets.

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