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Cryptocurrency analyst Justin Bennett spoke about the growth potential of 3 popular altcoins
First on the list is a scaling solution for the Ethereum network called Polygon (MATIC). The analyst noted that MATIC is trading in an upward channel and must overcome a strong resistance zone to continue the uptrend:
“Every time an asset tests its all-time high and also makes higher highs and higher lows, it is technically a bullish structure. But you need to understand that the $ 2.7 level is the intersection of resistance, which means it will be difficult to overcome it. MATIC needs to move higher at the daily close, and only then the level will turn into support “
A convincing move above $ 2.7 will help the MATIC rate soar to $ 4 – $ 4.5, he said.
This is followed by the Polkadot blockchain project (DOT). Bennett believes that to overcome the DOT bearish trend, it is necessary to return a key exchange rate level:
“Only higher highs and higher lows can change a downtrend, which is a series of lower highs and lower lows. The asset needs to break through the diagonal trend line, rise to $ 32, close higher and turn this level into support. Then there are chances of getting to $ 38 “
Closing the list is the VeChain supply chain management platform (VET). The analyst believes that the asset will grow rapidly in 2022:
“It seems to me that during this year VET has formed a“ triangle ”pattern and if the asset manages to hold at the level of about $ 0.07, then it will face a positive scenario. In the future, VET will have to consolidate, rally, retest the $ 0.15 resistance, and then the reward will be a rapid rally. “
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