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According to KOL Justin Bennett, ETH needs to reach this level again in order to continue its long-term upward trend

Prominent analyst Justin Bennett outlines a critical level at which ETH must be restored to resume its uptrend.

In one Video The other day Bennett said that he wants to accumulate ETH around the $ 3,000 and $ 2,800 levels.

“As long as the ETH is below $ 4,000, you should be a little careful. If we see Etheruem tracing that price zone back on a weekly and monthly closing basis in the coming weeks and months, then yes, I think it will continue the trend we saw in 2021. “

Weekly ETH / USDT Chart | Source: TradingView / Justin Bennett

The analyst also looks at his bitcoin pair (ETH / BTC). Bennett says ETH / BTC is now retesting the triangle it previously broke out of, offering a similar scenario to 2017-2020, but with a smaller pattern.

The crypto analyst says ETH / BTC may be ready to start a long-term rally to 0.18 BTC ($ 7,388) if it manages to hold 0.075 BTC ($ 3,077).

“In the long term, I predict the pair will rally into the 0.18 BTC region. The view becomes invalid if it drops below 0.075. So I would like to see the bulls keep the pair above this price zone. “

Weekly ETH / BTC chart | Source: TradingView / Justin Bennett

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.