Ethereum (ETH) Poised for New All-Time Highs, Says Crypto Strategist
A prominent crypto strategist has expressed confidence in Ethereum (ETH) reaching new all-time highs in the near future. Trader Justin Bennett, with a substantial following on X, believes that Ethereum’s bullish momentum is strong, as long as it remains above a crucial support level.
Bennett emphasized the significance of Ethereum’s performance against Bitcoin (ETH/BTC) in determining its potential for rapid growth. 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 into support. He stated, “ETH will get really interesting if ETH/BTC can reclaim this channel on the weekly chart. Testing resistance now.”
Currently, ETH/BTC is trading at 0.04 BTC, equivalent to $3,997. In addition to Ethereum, Bennett also shared insights on Dogecoin (DOGE), predicting a potential breakout towards a new all-time high.
DOGE, which reached its previous all-time high in May 2021, is poised for another significant price surge, as per Bennett’s analysis. He indicated that DOGE could surpass $0.76 after breaking the $0.45 resistance level. Currently, Dogecoin is trading at $0.456.
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