Here Are the Breakout Levels for Ethereum, Chainlink and Polygon, According to Crypto Analyst Justin Bennett

stock market forex trading graph graphic concept 4 scaled

Crypto analyst Justin Bennett is labeling critical areas of resistance and support for Ethereum (ETH), Chainlink (LINK) and Polygon (MATIC).

In a new issue of Cryptocademy, Bennett tells his readers that Ethereum is looking to sustain a breakout toward the $3,500-$3,700 area after breaching its previous resistance at $3,190.

According to the trader’s chart, a move above $3,700 could potentially push Ethereum to resistance at $4,377.

Bennett is also looking at top oracle project Chainlink, which he says may be poised for a larger move up if it can manage to stay above its immediate resistance at $27.50.

“The $27.50 area could attract a few sellers as it’s the 50% retracement of the correction. That said, a daily close above $25 should flip the area to support. If LINKUSDT can get above the $27.50 area, there isn’t much stopping a run at $35.”

At time of writing, Chainlink is trading at $27.38, according to CoinMarketCap.

Source: Justin Bennett

The third coin on Bennett’s radar is layer-2 scaling solution Polygon, which the analyst says is having a strong breakout on the day heading north of $1.40.

According to Bennett, MATIC is poised to surge to his target of $1.75, which served as a critical support area in May before turning into a resistance in June.

Source: Justin Bennett

According to Bennett’s chart, a move above $1.70 could put MATIC in a position to rally to its next resistance at $2.43.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/POR666/stockphoto-graf

The post Here Are the Breakout Levels for Ethereum, Chainlink and Polygon, According to Crypto Analyst Justin Bennett appeared first on The Daily Hodl.

Ronnie Huss

Ronnie Huss

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 67,296.03
ethereum
Ethereum (ETH) $ 3,751.20
tether
Tether (USDT) $ 0.998662
bnb
BNB (BNB) $ 593.89
solana
Solana (SOL) $ 169.48
staked-ether
Lido Staked Ether (STETH) $ 3,750.76
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.523718
dogecoin
Dogecoin (DOGE) $ 0.165240
shiba-inu
Shiba Inu (SHIB) $ 0.000027
cardano
Cardano (ADA) $ 0.452648
the-open-network
Toncoin (TON) $ 6.46
avalanche-2
Avalanche (AVAX) $ 36.42
chainlink
Chainlink (LINK) $ 18.52
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,327.04
polkadot
Polkadot (DOT) $ 7.18
tron
TRON (TRX) $ 0.112235
bitcoin-cash
Bitcoin Cash (BCH) $ 466.06
near
NEAR Protocol (NEAR) $ 7.63
uniswap
Uniswap (UNI) $ 10.48
matic-network
Polygon (MATIC) $ 0.716975
litecoin
Litecoin (LTC) $ 83.69
pepe
Pepe (PEPE) $ 0.000015
internet-computer
Internet Computer (ICP) $ 12.09
fetch-ai
Fetch.ai (FET) $ 2.21
leo-token
LEO Token (LEO) $ 5.96
dai
Dai (DAI) $ 1.00
wrapped-eeth
Wrapped eETH (WEETH) $ 3,898.63
ethereum-classic
Ethereum Classic (ETC) $ 30.48
render-token
Render (RNDR) $ 10.28
aptos
Aptos (APT) $ 9.10
dogwifcoin
dogwifhat (WIF) $ 3.80
hedera-hashgraph
Hedera (HBAR) $ 0.103440
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,715.75
cosmos
Cosmos Hub (ATOM) $ 8.70
arbitrum
Arbitrum (ARB) $ 1.15
immutable-x
Immutable (IMX) $ 2.22
mantle
Mantle (MNT) $ 0.995629
kaspa
Kaspa (KAS) $ 0.137034
filecoin
Filecoin (FIL) $ 5.82
crypto-com-chain
Cronos (CRO) $ 0.116879
stellar
Stellar (XLM) $ 0.107036
the-graph
The Graph (GRT) $ 0.310260
first-digital-usd
First Digital USD (FDUSD) $ 0.998194
ethena-usde
Ethena USDe (USDE) $ 1.00
blockstack
Stacks (STX) $ 1.93
okb
OKB (OKB) $ 45.80
optimism
Optimism (OP) $ 2.52
bittensor
Bittensor (TAO) $ 396.15
floki
FLOKI (FLOKI) $ 0.000269