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Popular crypto analyst Justin Bennett is updating his outlook on the two largest crypto assets by market cap.<\/p>\n
Starting with Bitcoin (BTC), Bennett says<\/a> that the flagship cryptocurrency could surge by up to 40% if it manages to break above the $42,000 resistance level.<\/p>\n \u201cThis area between $35,000 and $36,000 is support and $40,000 to $42,000 is resistance. Now as I have said recently, the market would have to get above $42,000 to expose $45,000 to $46,000, followed by that $50,000 to $53,000 resistance area.\u201d<\/em><\/p>\n With Bitcoin now threatening to breach resistance at $42,000, Bennett believes that a strong relief rally is on the horizon for BTC.<\/p>\n \u201cI continue to like the idea guys of a significant bounce here over the coming weeks. It\u2019s taken longer than I thought it would, but sometimes that\u2019s the way it goes.\u201d<\/em><\/p>\n Bitcoin<\/a> is trading at $41,490 at time of writing.<\/p>\n Next up is Ethereum (ETH). The crypto analyst says that Ethereum is trading sideways as he offers two likely possibilities.<\/p>\n \u201cIf we were to see Ethereum close back below this level here [$2,500] where it\u2019s testing today, then $2,200 would be next\u2026<\/em><\/p>\n If we were to see Bitcoin take out $35,000 support and go down to test $30,000, then Ethereum could come down and test $2,000\u2026<\/em><\/p>\n Now on the flip side if we see a close above this area up here, right around $2,900, then $3,100 to $3,200 would be next.\u201d<\/em><\/p>\n Ethereum<\/a> is trading at $2,996 at time of writing.<\/p>\n