Ethereum (ETH) Poised for New All-Time Highs, Says Crypto Strategist
A prominent crypto strategist has expressed confidence in Ethereum’s (ETH) potential to reach new all-time highs in the near future. Trader Justin Bennett, known for his insights on social media platform X, believes that Ethereum’s bullish momentum remains strong as long as it stays above a key support level.
Bennett highlighted that Ethereum could experience a significant surge if it continues to demonstrate strength against Bitcoin in the ETH/BTC pair. He stated, “Bullish on ETH while above this $3,950 area with a $5,000 target. Could happen quickly if ETH/BTC can flip that 4% area on the weekly chart.”
Examining the ETH/BTC chart, Bennett suggested that Ethereum could gain further bullish momentum if it manages to turn the 0.04 BTC resistance level into support. He commented, “ETH will get really interesting if ETH/BTC can reclaim this channel on the weekly chart. Testing resistance now.”
As of the latest data, ETH/BTC is trading at 0.04 BTC, equivalent to $3,997.
DOGE Primed for Breakout, Predicts Trader
Shifting focus to Dogecoin (DOGE), Bennett foresees a major breakout for the meme-inspired cryptocurrency, potentially leading to a new all-time high. He stated, “A new DOGE ATH seems like a formality at this point. Nice consolidation on the daily chart.”
DOGE achieved its previous all-time high in May 2021 at $0.7316. Bennett’s analysis suggests that DOGE could surpass the $0.76 mark in the upcoming rally. To kickstart this momentum, he emphasized the importance of breaking through the $0.45 resistance level.
Currently, Dogecoin is trading at $0.456.
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