Justin Bennett Draws Key Support And Resistance Levels For ETH, LINK & MATIC
Justin Bennett, a popular cryptocurrency analyst and trader is draws critical resistance and support areas for Ethereum (ETH), Chainlink (LINK) and Polygon (MATIC).
Ethereum (ETH)
In the latest issue of Cryptocademy, Bennett shares with his readers that ETH is looking to sustain a breakout toward the $3,500-$3,700 area after breaching its previous resistance at $3,190.
A move above $3,700 could potentially push Ethereum to resistance at $4,377, according to Bennett
Chainlink (LINK)
The trader is also covering Chainlink, which he says could be ready for a larger move up, if it can manage to stay above its immediate resistance at $27.50.
“The $27.50 area could attract a few sellers as it’s the 50% retracement of the correction. That said, a daily close above $25 should flip the area to support. If LINKUSDT can get above the $27.50 area, there isn’t much stopping a run at $35.”
At time of writing, Chainlink is trading at $28.37, according to CoinMarketCap.
Source: Justin Bennett
Polygon (MATIC)
The 3rd coin on Bennett looks into is layer-2 scaling solution Polygon, which according to him, is having a strong breakout on the day heading north of $1.40.
The trader says, MATIC is ready to go up to his target of $1.75, which served as a critical support area in May before turning into a resistance in June.
Source: Justin Bennett
The trader’s chart indicates that a move above $1.70 could put MATIC in a position to rally to its next resistance at $2.43.
