2 renowned crypto analysts Jason Pizzino and Justin Bennett update their DOGE, ADA, MATIC and SOL price predictions. Let’s take a look at the assumptions, not forgetting that there is no rigidity.
Jason Pizzino: SOL and ADA show bearish signals as MATIC prepares for bullish
Crypto analyst says Polygon MATIC is preparing for a gradual rise. MATIC dropped to $0.35 in June. It is currently trading for over $1. Pizzino predicts the gradual rise will eventually reach higher levels:
Look at June and then the lows of September and October – that’s a higher base. This doesn’t mean it can’t come back, but you definitely want to see the market build up these high bases and start to gain some strength.
The analyst subsequently said that Cardano (ADA) signals bearish with lower lows. He says Solana (SOL) is also close to dropping below the soles of June:
ADA in particular creates lower bottoms… Solana, a quick look at the chart, the closer it is to the low. But it doesn’t just have this ride. So you really want to see this jump rise relatively soon.
Justin Bennett lists what Dogecoin needs for a potential rally
Another well-known analyst studies the US Dollar Index (DXY), an indicator of the strength of the US dollar. In his new analysis, Bennett says that higher-than-expected unemployment rates in the US mean lower for DXY and bullish for crypto:
A significant drop in DXY came in the wake of higher-than-anticipated unemployment. A daily close below 111.80 is unmistakably bearish for the week ahead (bullish for crypto).
Looking at the charts today, Bennett tells his followers that he has confirmed that the hourly DXY chart is a “fake”:
The hourly DXY chart shows a confirmed invalid exit earlier in the session. Still holding on to 111.80 for now.
Bennett delves into exactly how DXY levels will affect cryptos like Bitcoin and Ethereum:
I can’t stress enough how precious 109.30 next week will be for DXY. The merger there is huge. 2022 trendline, descending channel support and precious monthly level. Close below = extended crypto rally. Bounce in an aggressive form = crypto comeback.
Here are the must-haves for the Dogecoin rally
Lastly, the analyst looks at Dogecoin (DOGE), which rally due to Elon Musk’s acquisition of Twitter. Bennett assumes there will be additional rallies if he crosses the blue zone below:
If DOGE can reclaim this area, we’ll likely see the next leg begin.
Koindeks.com As you follow, Elon Musk’s completion of his Twitter acquisition resulted in a 150% rally in Dogecoin price. DOGE is currently trading at $0.1311. It sees progress right above the area where Bennet is expecting additional rallies.