Market

According to KOL Justin Bennett, this is the breakout scenario for MATIC, DOT, VET in 2022

Renowned strategist Justin Bennett reveals potential breakouts for Polygon (MATIC), Polkadot (DOT) and VeChain (VET) early in the new year.

In a new strategy meeting, the analyst said he was watching the price movement of Polygon, a scaling solution that is set to enable the mass rollout of Ethereum (ETH) dapps.

MATIC is trading within an upward channel, according to Bennett, and must cross a strong area of ​​resistance to resume its uptrend.

“Every time the market tests all-time highs and hits higher highs and lows, it’s technically a bullish structure. But at the same time you need to understand that $ 2.7 is a confluence of resistance and therefore it will be a very strong level that MATIC will just have to break through every day to switch to support. ”

Bennett said a convincing move above $ 2.7 on the daily MATIC chart could move into the $ 4-4.50 range.

Source: Justin Bennett

Next up is Polkadot, a project that connects multiple blockchains into a unified network and allows users on different blockchains to send and receive transactions of any type of data or asset.

According to the analyst, DOT has to reach an important price level again in order to reverse the downtrend.

“The only way to reverse a downtrend that has a series of lower highs and lower lows is to create higher highs and lower lows. So the market has to break the trend line [đường chéo], from $ 31 to $ 32, closed above that level, flipped it to support, then moved towards $ 38.

Source: Justin Bennett

The last coin on Bennett’s list is supply chain management platform VeChain (VET), which he says is likely to have a big break in the next year.

“In this scenario, I think it is likely that VET has formed a triangular pattern over the course of the year. As expected, VET is above this range, around $ 0.07. Then we could see the market consolidate here in this way, go up, retest the resistance ($ 0.15) and then possibly break out in 2022. ”

Source: Justin Bennett

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

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

CoinX

Recent Posts

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

48 minutes ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

2 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

2 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

2 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

3 hours ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

5 hours ago

This website uses cookies.