Ethereum, Chainlink and Polkadot could value up to 40%, analyst says
According to analyst Justin Bennett, three cryptoarivos could rise up to 40% in the coming days: (LINK), (MATIC) and ().
However, this move requires that the three cryptocurrencies reach certain price levels. In his analysis, Bennett cites what the levels and final target prices are for each.
Bennett initial cryptocurrency resistance around $27.50. Currently, the cryptocurrency is quoted above US$ 30, but the price still has room to advance and generate more than 10% of profit.
“The $27.50 area could attract some sellers as it is 50% correction area. That said, a daily close above $25 should turn the area around to support. If the LINK/USDT pair can get above the $27.50 area, the next stop is in the $35 range,” Bennett said.
In other words, if there is no new fact, LINK will not have new resistances. If it reaches US$ 35, the valuation may reach 14.28% compared to the current price.
The token, from the second layer MATIC network, seems to keep pace with the rapid growth of Ethereum. Initially, Bennett suggested the $1.40 region as the necessary floor for the token to start a new bullish trajectory.
At the time of writing this text, MATIC is worth $1.54. However, the token still has one last resistance level, located in the $1.75 region. This area was once a crucial support between May and June, but after the market fell it turned into strong resistance.
Therefore, MATIC needs to turn this region back into support. If that happens, the token will have a clear path to the next resistance ($2.43). In total, the investor can earn a profit of up to 36% when comparing the current price and the last resistance.
Finally, Bennett cited the cryptocurrency of the moment, especially after the release of hard fork London. Despite a sharp rise of 94% in less than a month, ETH has not yet reached its full potential.
Priced at $3,282, the ETH is on track to overcome the first resistance, located in the $3,500 to $3,700 region. The last resistance, at US$ 3,190, was overcome without difficulties.
According to Bennett’s chart, ETH needs to surpass $3,700 to overcome immediate resistance. With that, the cryptocurrency will have a clear path to the next target at US$4,377, a potential increase of 34% compared to the current price.
By Easy Crypt