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Crypto Trader Predicts Incoming Rallies for Ethereum, Says New Dogecoin All-Time High ‘A Formality at This Point’

Crypto Trader Predicts Incoming Rallies for Ethereum, Says New Dogecoin All-Time High ‘A Formality at This Point’

Daily HodlDaily Hodl2024/12/07 16:00
By:by Henry Kanapi

A closely followed crypto strategist thinks Ethereum ( ETH ) is now in a solid position to print new all-time highs.

Trader Justin Bennett tells his 115,200 followers on the social media platform X that Ethereum bulls are in full control as long as ETH is trading above an immediate support level.

According to Bennett, Ethereum could get a quick sprint if ETH continues to flash strength in its Bitcoin pair (ETH/ BTC )

“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.”

Crypto Trader Predicts Incoming Rallies for Ethereum, Says New Dogecoin All-Time High ‘A Formality at This Point’ image 0 Source: Justin Bennett/X

Looking at the ETH/BTC chart, the crypto strategist says Ethereum will likely gather more bullish momentum if the pair flips the 0.04 BTC resistance into support.

“ETH will get really interesting if ETH/BTC can reclaim this channel on the weekly chart.

Testing resistance now.”

Crypto Trader Predicts Incoming Rallies for Ethereum, Says New Dogecoin All-Time High ‘A Formality at This Point’ image 1 Source: Justin Bennett/X

At time of writing, ETH/BTC is trading for 0.04 BTC worth $3,997.

Turning to the top memecoin Dogecoin ( DOGE ), the trader believes that the altcoin is on the verge of a big breakout en route to a fresh all-time high.

“A new DOGE ATH (all-time high) seems like a formality at this point.

Nice consolidation on the daily chart.” 

Crypto Trader Predicts Incoming Rallies for Ethereum, Says New Dogecoin All-Time High ‘A Formality at This Point’ image 2 Source: Justin Bennett/X

DOGE reached its current all-time high in May 2021 when it surged to $0.7316. Based on the trader’s chart, he appears to predict that DOGE will explode above $0.76.

In the near term, Bennett says that DOGE should shatter its resistance at $0.45 to get the rally started.

“If you’re trading, you want to see a clean break of this level on the intraday charts.

There’s at least +20% above this trend line toward the top of the channel. One to watch.” 

Crypto Trader Predicts Incoming Rallies for Ethereum, Says New Dogecoin All-Time High ‘A Formality at This Point’ image 3 Source: Justin Bennett/X

At time of writing, Dogecoin is trading at $0.456.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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