Cryptocurrency analyst Justin Bennett points to key levels that Bitcoin and Ethereum must overcome before they can go higher. The analyst also updated the outlook on Ethereum (ETH) and Chainlink (LINK).
Predictions about Ethereum, Chainlink and Bitcoin
Analyst Bennett says that if BTC rises above two consecutive resistance levels, it could rally to $60,000. Analyst says:
– The real test for buyers is the $50,000 zone, which is the downtrend line from ATH. If BTC can break above the $53,000 to $54,000 area on a daily close basis, we could return to $60,000 and potentially higher. And as long as Bitcoin is below $50,000 and $54,000, I will continue to watch the $42,000 region just in case.
According to Bennett, Ethereum is currently threatening to break a diagonal resistance. On the subject, the analyst says:
– “ETH is testing the descending trendline from December 1 high. This level is around $4,050. A close above this could prolong prices to $4,200. However, I would like to see ETHUSDT rise above $4,500 to confirm its first high since November. Until then, we have a chance to get another rotation to the $3,500 to $3,700 support area.”
Bennett is also looking into Chainlink (LINK). According to Bennett, Chainlink could rise if it breaks a critical resistance area. Analyst says:
– LINK is also testing a resistance level today. In this case, it is the $20.40 area that buyers need to clear on a daily close basis to expose $23. $26.50 over $23. If the crypto market takes another hit in the coming days, I would closely monitor the $17 support zone for Chainlink. Altogether, I think we have a good chance of seeing LINK test multi-year channel support for $14 to $15.
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