dailyhodl.com
Analyst and trader Justin Bennett is predicting new all-time highs as he provides the outlook for four top-30 crypto assets.
In a newsletter, the crypto analyst says that if Bitcoin (BTC) replicates the 2017 price action, it could hit $80,000 sometime in November.
“…if Bitcoin continues following its 2017 fractal, we should see prices reach $80,000 or more later this month.”
On the other hand, Bennett says that if the flagship cryptocurrency loses support at $60,000, it could fall by between 3% and 9% from that key psychological level.
“…$60,000 is critical support; it has been for the last few weeks. Below that is $58,000 and $55,000.”
Bitcoin is trading at $61,800 at the time of writing, according to CoinGecko.
Next up is Ethereum (ETH), which Bennett says could surge by up to 350% from current levels.
“If we assume the last few months is a massive cup and handle pattern, the measured objective is between $6,000 and $6,500.
But as I’ve stated for a few weeks now, a cycle peak in January puts the price of ETH somewhere between $15,000 and $20,000, in my opinion.”
Ethereum is trading at $4,500 at the time of writing.
Next up is VeChain (VET). The crypto analyst says that the native token for the supply chain management blockchain will range before it surges.
“…VET/USDT needs to get above the $0.15-$0.16 region to open up $0.19. Above that are the all-time highs near $0.28.
My guess is that we’ll continue to see some sideways consolidation here before the next leg up. That’s especially true if Bitcoin follows the 2017 fractal this month.”
At time of writing, VeChain is trading at $0.14.
Next up is decentralized exchange token UniSwap (UNI). According to Bennett, UniSwap needs to convert the $27.60 resistance level into a support level before it can surge higher.
“…there’s also a horizontal level at $27.60 that UNI needs to clear on a daily closing basis to flip to support.
Above $27.60 is $36 and $44.”
UniSwap is trading at $26.22 at the time of writing, according to CoinGecko