A closely tracked crypto strategist is unveiling his targets for Solana (SOL), Polkadot (DOT) and VeChain (VET) as he says the three altcoins are on the verge of breaking out.
Analyst Justin Bennett tells his nearly 100,000 Twitter followers that smart contract platform Solana has broken out of its diagonal resistance while printing a large bullish divergence on the daily chart, suggesting that bulls are beginning to gain momentum.
“Anyone bearish on SOL, look away.”
Looking at Bennett’s chart, the next resistance for SOL is $118 as long as it stays above $85.67. At time of writing, Solana is exchanging hands for $87.72.
Next up is interoperable blockchain Polkadot. According to the crypto strategist, DOT is on the cusp of breaking out as it threatens to move above its immediate resistance.
“DOT ready to be sent back to $23. Close above $19.40 to confirm.”
At time of writing, Polkadot is trading at $18.62, down 2.76% in the last 24 hours.
Bennett is also keeping a close watch on VeChain, a blockchain platform designed to help companies optimize their supply chains. According to the crypto analyst, VET must get above a key resistance area to ignite a strong rally.
“VET breaking out intraday. Still needs to get above that 0.05 area on the daily. Above that and I think we see a 40% rally to 0.07.”
VeChain is currently valued at $0.49, down 4.50% in the past day.
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