Justin Bennett: Here’s What’s Next For Bitcoin, Ethereum & 3 Other Altcoins

Justin Bennett, a prominent crypto market analyst and trader, looked into Bitcoin (BTC), Ethereum (ETH), and three other altcoins: Dogecoin (DOGE), VeChain (VET) and Verasity (VRA).

Bitcoin (BTC)

According to Bennett there is a “ton of confluence” for Bitcoin around $55,000.

“There’s a ton of confluence around $55,000. However, don’t forget that the September high near $53,000 could also play a role… Key resistance above $60,000 comes in at $63,600 and $67,000.”

At the time of writing Bitcoin trades at $62,000 level.

Ethereum (ETH)

According to Bennett, Ethereum should not fall below the critical support level at $3,900.

“If we get the latter [below $3,900], I’ll be keeping an eye on the $3,700 area…
As I’ve maintained for a while now, ETH/USDT needs to clear $4,370 on a daily closing basis to secure the breakout and enter price discovery.”

At the time of writing ETH trades at $4,381.

Dogecoin (DOGE)

According to the analyst, now might not be the best time to buy the Dogecoin because it was testing lower levels.

“Today’s session would need to close inside of Tuesday’s range for it to be considered a bullish signal. Tuesday’s low was $0.2520, so that’s the level to close above.
If DOGE can do that, we could see this market move back to $0.27 resistance. And if it doesn’t, then it likely slides lower toward $0.23 support.”

At the time of writing DOGE trades at $0.2854.

VeChain (VET)

According to Bennett, VeChain’s price movement will depend on BTC. VET sunk over 20% in a day. VeChain’s resistance level will be back to $0.155, if Bitcoin has already hit its bottom price, says the analyst.

“However, a deeper correction toward $53,000 BTC could put VET in the $0.10 to $0.11 range, especially as we’ve seen VET/BTC reach resistance and sell-off today.
Of course, if the bottom for Bitcoin is already in, then VET should hold its current level and move back to $0.155 resistance.”

At the time of writing VET trades at $0.1377.