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.”
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.”
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.”
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.”
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.”
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Svobodin Anton