With the market worth just hitting $2 trillion, the cryptocurrency bull market appears to be returning. The rise coincided with a rally in bitcoin and other digital tokens. As crypto market improved for the fourth week, Bitcoin is currently trading around $47.5K and Ether is hovering above $3,200.
Justin Bennett, a cryptocurrency expert, has identified key zones for Ethereum (ETH), Chainlink (LINK), and Polygon (MATIC).
After passing earlier resistance at $3,190, Bennett believes that Ethereum is trying to continue a breakthrough toward the $3,500-$3,700 range.
A move above $3,700, according to the trader’s chart, might drive Ethereum to $4,377 resistance.
Bennett is also keeping an eye on top oracle project Chainlink. He believes LINK price could be set for a bigger rise higher if it can stay above its immediate barrier at $27.50.
According to him, the $27.50 area, which is the 50% retracement of the decline, may draw a few sellers. A daily close above $25, on the other hand, should turn the area into support. There isn’t anything keeping LINKUSDT from hitting $35 if it can climb above $27.50.”
According to CoinMarketCap, Chain Link is currently trading at $27.38.
Layer-2 scaling solution Polygon is the third coin on Bennett’s radar, which is having a big breakout on the day, reaching north of $1.40.
MATIC is on track to reach his $1.75 target, which served as a vital support area in May before becoming a resistance area in June.
A rise above $1.70, might put MATIC in a position to rally to its next resistance level of $2.43.