- Justin Bennett predicts Ethereum and Dogecoin for Breakouts in December.
- A Bullish December is expected for the crypto market.
Crypto analyst Justin Bennett predicted that the digital assets market would recover in the coming month; he predicted Ethereum and dogecoin to be at the forefront of this.
The analyst has made these predictions through his twitter account in which he stated, “that dollar index (DXY) is indicating a bullish signal for crypto markets”.
As per the analyst a lower DXY indicates high prices for many digital assets. Bennett has pointed out that DXY may face a failed breakout and could be witnessing a descending momentum.
Referring to the chart of total market cap of crypto (TOTAL), Bennett predicted, TOTAL is coming to an end of a significant falling wedge. He also indicated towards the divergence between downward price movement and upward relative strength index (RSI). This rise in RSI, when there is a downtrend is often the indication of bullish reversal.
Making analysis for Ethereum, Bennett predicts that ETH will see a surge in December and could be pushing for a breakout, if it sees more volume. For Dogecoin (DOGE), Bennett predicts the same as ETH, as he predicts DODGE to be in the middle of a breakout, with first key resistance at $0.25, and final resistance level at all-time high of above $0.75.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investmenting.
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