Steep Corrections Incoming for Dogecoin (DOGE) and VeChain (VET), According to Analyst Justin Bennett

Closely followed crypto analyst Justin Bennett said Bitcoin is trading below the $ 20,000 level, which will significantly reduce the digital assets of the two large caps.

Bennett To tell His 101,000 Twitter followers say that the major memecoin Dogecoin (DOGE) has collapsed from an ascending wedge pattern indicating the resumption of a downtrend.

According to crypto analysts, DOGE could drop to $ 0.035, which is about 47% lower than its current price.

“Following the recent breakdown, a retest of the textbook from DOGE.

I’m still I think $ 0.05, and in some cases $ 0.035, is also valid. “

At the time of writing Doge I’m changing hands for $ 0.66.

Looking at the blockchain-based supply chain management system VeChain (VET), analysts said a low-cost bearish retest on the card after VET was unable to maintain a breakout from the reverse head and shoulder pattern. Say there is.

According to Bennett, 37% $ 0.016 If the level is VET lose Range of $ 0.022.

“VET’s head and shoulders failed at $ 0.024.

It is currently trading for less than $ 0.022 on a 4-hour basis.

I know the end of the day, but below $ 0.022 it will be $ 0.02 and $ 0.016.“”

Veterinarian It is trading at $ 0.022 at the time of writing.

Analysts have also locked the radar to Ethereum’s rival Solana (SOL).He used to Said Based on the weekly time frame, a $ 20 retest in the coming weeks seems “likely”, with SOL’s key resistance levels at $ 37.40 and $ 39.25.

At Solana Call on Friday, Bennett doubled after SOL failed from the ascending channel and converted the diagonal support of the channel into a resistor. When it goes down to $ 20, SOL’s haircuts are 34% off the current price.

“SOL with a bearish retest of the channel I discussed on the 29th.

I think we still need $ 20 before the big bounce. “

At the time of writing Sol I’m exchanging hands for $ 32.96.

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Featured image: Shutterstock / Almujaddidi