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Crypto trader Justin Bennett spoke about the near future of BTC and ETH and noted that BTC is fluctuating between support levels
“Bitcoin tried to return the level of $23,450, but failed. Also, BTC closed below $23,000, which could put an end to the short-term rally, as this level will now become resistance.
The next key support for BTC is at $22,400, followed by $21,600. BTC will need to return to the $23,000 and $23,450 levels for a constructive upside opportunity,” says Bennett
ETH is weak below $1,700, according to Bennett:
“ETH is still in a sideways trend and looks relatively weak as long as it is below $1,700. The $1520 area is likely to serve as critical support for ETH at the moment in case the market pulls back. A close below this level will reopen the path to $1420.
ETH will need to close above $1,700 for a constructive uptick, and until then, the market will remain under pressure.”
Analyzing the total market capitalization of cryptocurrencies (TOTAL), Bennett predicts its growth to the level of $1.15 trillion:
“If TOTAL doesn’t hold around $1.035 trillion, a move to $985 billion and even a pullback to $960 billion is possible. A recovery above $1.05 trillion would be bullish for the crypto market and open the way to $1.15 trillion.”
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