Market Analysis

Binance Coin, Dogecoin and Two More Altcoins Jostling for Breakouts, According to Analyst Justin Bennett

Top crypto analyst Justin Bennett is keeping an eye on Binance Coin (BNB), Dogecoin (DOGE) and two other altcoins that he says could be setting up for breakouts.

The closely followed analyst tells his 63,000 followers that BNB is sitting right on the brink of a price spike, naming a key level to watch for confirmation.

 

“BNB looks ready to break higher any day now.

Watching to see if it can clear $428 on a daily closing basis. That would open up $480 and $530.”

Source: Justin Benett/Twitter

Bennett says now that meme cryptocurrency Dogecoin (DOGE) has broken the $0.30 level, it is most likely on its way to $0.42.

“There goes DOGE.”

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Source: Justin Bennett/Twitter

The analyst is also watching a coin from the decentralized finance (DeFi) space. According to Bennett, automated market maker SushiSwap (SUSHI) could rise over 57% from its current price of $12.66 if it manages to go above a key level.

“SUSHI is on the move. 

A daily close above $13.50 opens up $16.70 and $20.

Lots of room to run if it confirms.”

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Source: Justin Bennett/Twitter

Looking at supply chain-focused VeChain (VET), Bennett says the crypto asset is attempting to take out the crucial resistance at around $0.14 with key supports at $0.11 and $0.09.

“VET is reacting to that $0.14-$0.15 resistance today.

Key support[s] marked.”

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Source: Justin Bennett/Twitter

As for Bitcoin and Ethereum, the crypto strategist says that the two largest cryptocurrencies could correct this week after trading below short-term support areas.

“BTC and ETH closed below $46,000 and $3,160 respectively. Could get that pullback this week.”



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Featured Image: Shutterstock/Svobodin Anton

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