The market line is floating in a green colour. The overall cryptocurrency market capitalization was $2.05 trillion, with a 0.53 percent growth in the last 24 hours. In addition, the entire crypto market volume was approximately $84.28 billion in the previous 24 hours, although this fell by around 16.66 percent.
As the market traces back, Justin Bennett, a cryptocurrency trader, has revealed his predictions for Bitcoin (BTC), Ethereum (ETH), and two altcoins in the following days and weeks.
Bennett begins with Bitcoin, telling his 7,820 YouTube viewers that the first resistance level the flagship cryptocurrency would face if it continues to rise is $45,600.
Bitcoin might rally to $50,000, according to Bennett, if the $45,600 resistance level turns into a support region.
According to Bennett, if a more positive scenario comes to fruition, Bitcoin may rise by more than 35% from current values by the end of the year.
As long as the price of Bitcoin remains above that $40,000 to $42,000 level,the cryptocurrency analyst and trader is bullish.
Bennett claims that the current barrier level for Ethereum, the second-largest cryptocurrency by market cap, is approximately $3,170, with the next resistance level being around $3,600.
To validate a bullish trend, according to Bennett, Ethereum must close over $4,000 on the weekly chart.
“Now $4,000 is going to be the big test for Ethereum…It’s going to have to get back above this area [$4,000] in order to turn bullish again.”
At the time of writing, ETH is trading at $3,366 up by 1.8% in the last 24 hours. The resistance is at $3,400 and the major support is at $3,100.
CRO is the native token of the Crypto.com blockchain, which provides a wide range of consumer services and goods including as payments, a cryptocurrency exchange, a cryptocurrency wallet, debit cards, and decentralised finance.
CRO must first break over the $0.50 resistance level on the daily chart, according to Bennett, in order to turn bullish in the short term.
“The market has to get above $0.50 to $0.53 to turn bullish again up towards $0.65.”
VET is the native coin of VeChain, a blockchain for industrial supply chain management.
VET might rally to $0.12, according to Bennett, but a breach below $0.065 could signal the start of a bearish trend.
“Now if it were to close above this [$0.088], there’s a chance we could see a move toward $0.10, that’s going to be the next key level.”
At the time of writing, VET is trading at $0.079 up by 1.6% in the last 24 hours. The token has traded with minimal volatility in the range of $0.78 to $0.80 in the last 24 hours.
Web3 Reimagined. Data Intelligence Amplified. Click here to access.