Analyst and trader Justin Bennett has revealed his price predictions for popular cryptocurrencies. If Bitcoin (BTC) repeats its 2017 price action, it could reach $80,000 in November.
“…If Bitcoin continues to follow the 2017 fractal, we should see prices reach $80,000 or more by the end of this month. ”
On the other hand, Bennett said that if the leading cryptocurrency loses support at $60,000, it could drop 3% to 9% from this key psychological level: “60. $ 000 critical support; it has been for the past few weeks. Below that is $58,000 and $55,000. ”
According to CoinGecko, at the time of writing, Bitcoin was trading at $62,300.
Bennett then talked about his Ethereum (ETH) analysis. According to him, the leading altcoin can rise up to 350% from current levels.
“Assuming the last few months have been a huge cup and handle model, the measured target is between $6,000 and $6,500. But as I’ve been pointing out for a few weeks, a cycle peak in January puts ETH price somewhere between $15,000 and $20,000 in my opinion. ”
Ethereum was trading at $4,500 at the time of writing.
The next altcoin is VeChain (VET). The crypto analyst said that the native token of the supply chain management blockchain will change before it rises.
“$0.15–0 for VET/USDT to surpass $0.19. It should break above the $16 zone. Above this, all-time highs are found around $0.28. My guess is we’ll continue to see some side consolidation here before the next leg up. ”
At the time of writing, VeChain was trading at $0.15.
According to Bennett, UniSwap needs to turn the $27.60 resistance level into a support level before it turns bullish.
UniSwap is trading at $25.50 at the time of writing.
