A closely followed crypto strategist believes Ethereum (ETH) is now in a strong position to print new all-time highs.
Trader Justin Bennett tells his 115,200 followers on social media platform X that Ethereum bulls are in complete control as long as ETH trades above an immediate support level.
According to Bennett, Ethereum could see a rapid sprint if ETH continues to strengthen its Bitcoin pair (ETH/BTC)
“Bull on ETH above that $3,950 zone with a target of $5,000.
This could happen quickly if ETH/BTC can reverse this 4% area on the weekly chart.
Looking at the ETH/BTC chart, the crypto strategist says Ethereum will likely gain more bullish momentum if the pair flips the 0.04 BTC resistance into support.
“ETH will become really interesting if ETH/BTC can reclaim this channel on the weekly chart.
Test resistance now.
At the time of writing, ETH/BTC is trading at 0.04 BTC worth $3,997.
As for the top memecoin Dogecoin (DOGE), the trader believes that the altcoin is poised for a strong breakout en route to a new all-time high.
“A new DOGE ATH (all-time high) appears to be a formality at this point.
Nice consolidation on the daily chart.
DOGE reached its current all-time high in May 2021, when it surged to $0.7316. Based on the trader’s chart, he seems to predict that DOGE will explode above $0.76.
In the short term, Bennett says DOGE should break its resistance at $0.45 to start the rally.
“If you’re trading, you want to see a clear breakout of this level on the intraday charts.
There is at least +20% above this trendline towards the top of the channel. One to watch.
At the time of writing, Dogecoin is trading at $0.456.
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