Justin Bennett, a popular cryptocurrency analyst and trader is closely following Dogecoin (DOGE), Binance Coin (BNB) and Polkadot (DOT) as the crypto markets show signals on overextension.
Bennett shares with to his 64K Twitter followers possible short-term bullish and bearish scenarios for the top meme coin (DOGE) as it forms a symmetrical triangle in the short-term timeframe.
“DOGE is starting to look interesting again.
If this breaks down, I might look to buy at $0.26 again, provided there’s some [price action] confirmation.
Bennett also updates his outlook on Binance Coin, the utility token of crypto exchange Binance. According to him, BNB must stay above a key resistance level to have a chance at hitting the trader’s price target.
“BNB so far, so good. Working on $480. Get through that, and $530 is next.”
Regarding Polkadot, the analyst says that DOT must break out its immediate resistance to open up the possibility of igniting a 56% rally from its current price of $25.
“DOT is starting to look interesting with that close above $27.40. Get above $29, and $39 could be next. Something to keep an eye on.”
$DOT is starting to look interesting with that close above $27.40. Get above $29, and $39 could be next.
Bennett is also watching the price action of supply chain management platform VeChain (VET), which is gearing up to breach the diagonal resistance that has kept the crypto asset bearish since May, he says.
