- Crypto Analyst predicted the potential breakout for MATIC, DOT, VET.
- Polkadot (DOT) needs to move up from $31 to $32.
- VET has developed the triangle pattern here over the year.
The entire crypto market is moving in a green line with less volatility. Accordingly, the popular and well-known crypto traders and analysts have predicted the potential breakout possibilities for some of the trending cryptos Polygon (MATIC), Polkadot (DOT), and Vechain (VET).
Furthermore, crypto analyst Justin Bennett, noted that he is watching the performance of Polygon (MATIC) price. As per the analyst, MATIC price is trading in an ascending channel pattern and must break through a severe resistance region to continue its advance. Justin Benett found that whenever a market is testing an all-time high (ATH), while also carving higher highs and lower lows, which means it is theoretically a bullish structure.
Currently, $2.70 is a crucial resistance level, if MATIC breaks and moves above on a daily closing basis so it will reach its target soon. According to the analyst Bennett, if it breaks and moves above $2.70 on the daily basis, then there is a high possibility for MATIC price to trade in the range of $4 to $4.50.
At the time of writing, Polygon (MATIC) price was trading at $2.88 with a 24-hour trading volume of $2,977,923,416. According to CoinMarketCap, the circulating supply of MATIC is 7.10B MATIC. In a day MATIC price gained over 5%. Today Polygon (MATIC) reached its new all-time high (ATH) at $2.92.
The next crypto predicted by the analyst Justin Bennett is Polkadot (DOT). Polkadot connects various blockchains into a single network and facilitates users to send and receive transfers of any kind of data or asset on various blockchains. As per Bennett, to reverse DOT from its bearish trend, it must retake a crucial price level.
Eventually, the only possible way to reverse a downtrend is just a sequence of lower highs and lower lows are to reverse the trend in the opposite direction, which means higher highs and higher lows. Therefore, DOT needs to move up to $31 to $32, also above that, switch the trendline to support, and then advance to $38.
Hence more, at press time, DOT price is trading at $31.50 with a 24-hour trading volume of $1,741,329,241. In the last 24-hour DOT, the price surged over 9%. It can be traded in top crypto exchanges such as Binance, ZBG, OKEx, CoinFLEX, and CoinTiger.
The next coin on Justin Bennett’s list is VeChain (VET). According to Justin Bennette, VET has developed this triangle pattern here over the year. However, VET remains over $0.07, maybe barely above it, this may play out. He noted we might just see a crypto market that consolidates in this way, rises, retests resistance, and then breaks out in 2022.
Furthermore, according to CoinMarketCap, VET’s price is trading at $0.098 with a 24-hour trading volume of $290,841,259. In a day VET price spikes over 5%. The circulating supply of VET is 64.32B VET.