The cryptanalyst named 2 altcoins that are waiting for a sharp correction
Cryptocurrency analyst Justin Bennett named 2 altcoins that are waiting for a significant downtrend
According to him, the Dogecoin meme coin (DOGE) broke through the "rising wedge" pattern, which indicates the resumption of the downward trend. Thus, the DOGE rate may fall to $0.035, which is about 47% lower than the current level:
"Classic retesting from DOGE after the pattern breakdown. I think it is possible to reduce to $0.05 and even to $0.035"
The VeChain (VET) supply chain management platform failed to support the breakdown of the "inverted head and shoulders" pattern, which means that the asset will soon expect a bearish retesting of lower rates. Bennett believes that in case of a loss of the level of about $0.022, VET could fall by 37% to the level of $0.016:
"The "inverted head and shoulders" pattern for VET is broken at $0.024. If the asset goes below $0.022, then the levels of $0.02 and $0.016 will follow"
Separately, the analyst noted the first-level platform Solana (SOL). Earlier, he predicted that a retest at $20 seems likely in the coming weeks, and the key resistance levels of SOL are around $37.4 and $39.25. After breaking the SOL of the ascending channel and turning the diagonal support of the channel into resistance, Bennett became even more confident of falling to $20 (by 34% compared to the current rate):
"SOL is waiting for a bearish retesting of the channel. I think the asset is waiting for a drop to $20 before a significant rebound"
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