Justin Bennett Looks Into Ethereum And Outlines The Next Steps For ETH

A popular crypto analyst Justin Bennett looks into Ethereum (ETH) and what’s in store for the second largest digital asset for January.

In a recent video, Bennett shares that he’s looking to buy ETH around the $3,000 level. At the time of writing, ETH is trading at $3,144.

Ethereum should rebounce back to $4,000 crucial level in order to continue its macro bull trend, the analyst says.

“As long as ETH is below $4,000 you have to be a little bit careful. If we do see Ethereum over the coming weeks and months reclaim this area up here at $4,000 on a weekly and monthly closing basis, then yes, I do think we’re going to a continuation of the trend that we saw in 2021.”

Bennett also looks into Ethereum against Bitcoin (ETH/BTC). ETH may be breaking out of a bullish triangle, looking like a mini-version of what the digital asset did between 2017 and 2020.

ETH/BTC could also be ready to start a longer-term rally to the 0.18 BTC, if it is able to cleanly hold 0.075  BTC as support, according to the analyst.

“Over the longer term, I would expect this market to trend higher up here [0.18 BTC] to this area. Of course, it all comes down to 0.075 in the short term. So we want to see this market stay above that in order to see Ethereum continue to outperform Bitcoin over the short term.”