Cryptocurrency analyst Justin Bennett identifies critical areas of resistance and support for Ethereum (ETH), Chainlink (LINK), and Polygon (MATIC). Let’s examine the analyst’s predictions together…
Justin Bennett: These levels are important for Ethereum and Chainlink!
Popular cryptocurrency analyst Justin Bennett told his readers Ethereum’s $3,500-3 after breaking the previous resistance at $3,190. He said he wanted to sustain a breakout towards $700. According to the analyst’s chart, a move above $3,700 could potentially push Ethereum to $4,377. Cryptocoin. com, ETH price is trading at $3,283.
Justin Bennett is also looking at top Oracle project Chainlink (LINK), which he says could be ready for a bigger move if it manages to stay above the immediate resistance at $27.50. Justin Bennett adds the following to his explanations on the subject:
The $27.50 area could attract a few sellers as it reflects a 50% retracement of the correction. However, a daily close above $25 should turn the area to support. If LINK/USDT can break above the $27.50 area, there isn’t much to stop a $35 run.
Justin Bennett: MATIC price can bounce to these levels now
According to CoinMarketCap, at the time of writing, Chainlink is trading at $29.4. The third cryptocurrency on Justin Bennett’s radar is layer-2 scaling solution Polygon, which the analyst says is experiencing a strong break north of $1.40.
According to Justin Bennett, MATIC is poised to rise to its target of $1.75 in May, which served as a critical support area before turning into a resistance in June.
According to Justin Bennett’s chart, a move above $1.70 might put MATIC in a position to rally to its next resistance at $2.43.