According to KOL Justin Bennett, ETH and DOGE preferred to lead the December boom
Prominent analyst Justin Bennett says December could be a boom month for the crypto market, with Ethereum (ETH) and Dogecoin (DOGE) likely leading the way.
The analyst told his 91,000 Twitter followers that the dollar index (DXY), which compares the USD to a basket of other fiat currencies, is sending bullish signals to the crypto market.
A weaker DXY often signals higher prices for many assets. Bennett noted that DXY has just had a false breakout and is now facing a pullback.
“DXY signals a rally for the crypto market in December.
Friday’s closing price within this channel indicates weakness. Now closes below 95.80.
Let’s see.”
The source: Justin Bennett / Twitter
Bennett also keeps an eye on the Total Cryptocurrency Market Capitalization (TOTAL) chart. In his opinion, TOTAL is moving towards the end of a large descending wedge, coupled with a bullish divergence in the RSI, a signal that often precedes upward moves.
“TOTAL is moving within a falling wedge and a bullish divergence is developing on the intraday chart.
Something worth keeping an eye on. ”
The source: Justin Bennett / Twitter
Looking at Ethereum, the analyst says the next month looks to be a good month for the world’s second largest cryptocurrency with a big breakout.
“The ETH is approaching an eruption level.
Just add the trading volume. ”
The source: Justin Bennett / Twitter
Dogecoin (DOGE) also has great potential to take part in this rally, according to Bennett. He said DOGE was about to break out, with the first major resistance at $ 0.25 and the last at the all-time high above $ 0.75.
“DOGE breaks out”.
The source: Justin Bennett / Twitter
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Ethereum
According to KOL Justin Bennett, ETH and DOGE preferred to lead the December boom
Prominent analyst Justin Bennett says December could be a boom month for the crypto market, with Ethereum (ETH) and Dogecoin (DOGE) likely leading the way.
The analyst told his 91,000 Twitter followers that the dollar index (DXY), which compares the USD to a basket of other fiat currencies, is sending bullish signals to the crypto market.
A weaker DXY often signals higher prices for many assets. Bennett noted that DXY has just had a false breakout and is now facing a pullback.
“DXY signals a rally for the crypto market in December.
Friday’s closing price within this channel indicates weakness. Now closes below 95.80.
Let’s see.”
The source: Justin Bennett / Twitter
Bennett also keeps an eye on the Total Cryptocurrency Market Capitalization (TOTAL) chart. In his opinion, TOTAL is moving towards the end of a large descending wedge, coupled with a bullish divergence in the RSI, a signal that often precedes upward moves.
“TOTAL is moving within a falling wedge and a bullish divergence is developing on the intraday chart.
Something worth keeping an eye on. ”
The source: Justin Bennett / Twitter
Looking at Ethereum, the analyst says the next month looks to be a good month for the world’s second largest cryptocurrency with a big breakout.
“The ETH is approaching an eruption level.
Just add the trading volume. ”
The source: Justin Bennett / Twitter
Dogecoin (DOGE) also has great potential to take part in this rally, according to Bennett. He said DOGE was about to break out, with the first major resistance at $ 0.25 and the last at the all-time high above $ 0.75.
“DOGE breaks out”.
The source: Justin Bennett / Twitter
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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