Categories: Market

According to KOL Justin Bennett, ETH could reach $ 20,000 in January 2022

Renowned analyst Justin Bennett believes Ethereum (ETH) is preparing for a major rally that could rebound nearly 400% from current prices.

In a series of tweets, Bennett explained how Ethereum could rise to $ 20,000 by January 2022 if Bitcoin (BTC) offers ideal market conditions.

“If BTC breaks above $ 65,000 without a sharp correction, ETH could break the downtrend line formed since May.

It could then start a new uptrend with a target of $ 20,000 in January. “

Weekly ETH / USDT Chart | The source: Justin Bennett / Twitter

Bennett believes ETH could hit a new ATH at $ 20,000 as too many traders are asking for an ATH at $ 10,000. He believes that most traders underestimate the inflow of capital during the asset’s parabolic rise.

“That’s one reason I think ETH will reach $ 20,000.

Every time I post this chart I get a lot of comments from people saying that ETH will peak at $ 10,000.

Parabolic movements tend to take longer and drive prices higher than most people would expect.

Time will answer “.

Despite his optimistic thesis, Bennett did warning Traders with potential short-term dumping could wipe out over-indebted traders.

“Don’t be surprised if Bitcoin drops this week, it will likely drop to $ 53,000.

Everyone, including me, is very optimistic at the moment and rightly so. But then it usually comes to liquidation.

Sunday’s low of $ 58,900 will be the sticking point. “

In response to another analyst’s bullish hypothesis, Bennett also offered his outlook on market cycles. He expects Bitcoin to hit a new ATH between $ 207,000 and $ 270,000, after which there will be an 80 percent correction.

You can see the ETH price here.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Dailyhodl

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

20 minutes ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

49 minutes ago

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

3 hours ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

3 hours ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

4 hours ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

4 hours ago

This website uses cookies.