{"id":760,"date":"2021-11-30T00:14:59","date_gmt":"2021-11-30T00:14:59","guid":{"rendered":"http:\/\/egrowonline.com\/?p=760"},"modified":"2021-11-30T00:14:59","modified_gmt":"2021-11-30T00:14:59","slug":"ethereum-and-dogecoin-primed-for-breakouts-as-crypto-markets-gear-up-for-bullish-december-according-to-analyst-justin-bennett","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=760","title":{"rendered":"Ethereum and Dogecoin Primed for Breakouts As Crypto Markets Gear Up for Bullish December, According to Analyst Justin Bennett"},"content":{"rendered":"


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Crypto analyst Justin Bennett says that December could bring rallies to the digital asset markets, with Ethereum (ETH) and Dogecoin (DOGE) potentially at the forefront.<\/p>\n

The analyst tells his 91,000 Twitter followers that the dollar index (DXY), which compares the USD to a basket of other fiat currencies, is flashing a bullish signal for the crypto markets.<\/p>\n

A weaker DXY often signals higher prices for many assets. Bennett notes that DXY may have just had a failed breakout, and could now be facing downward momentum.<\/p>\n

\u201cDXY looks good for a crypto rally heading into December.<\/em><\/p>\n

Friday\u2019s close back inside this channel indicates weakness. Now for a close below 95.80.<\/em><\/p>\n

Let\u2019s see.\u201d<\/em><\/p>\n

\"Image\"
Source: Justin Bennett\/Twitter<\/a><\/figcaption><\/figure>\n

Bennett also has his eye on the chart for the total market cap of crypto (TOTAL). According to him, TOTAL is nearing the end of a large bullish descending wedge. He also notes a divergence between the rising relative strength index (RSI) and the downward price movement. A rising RSI during a downtrend is often interpreted as a hint of a bullish reversal.<\/p>\n

\u201cTOTAL falling wedge and bullish divergence developing on the intraday charts.<\/em><\/p>\n

Something to keep an eye on.\u201d<\/em><\/p>\n

\"Image\"
Source: Justin Bennett\/Twitter<\/a><\/figcaption><\/figure>\n

Looking at Ethereum<\/a>, the analyst says that next month looks good for the world\u2019s second-largest crypto. Bennett says<\/a> ETH is \u201cpoised to do well in December,\u201d and could already be jostling for a breakout, as long as it sees more volume.<\/p>\n

\u201cETH approaching a breakout level.<\/em><\/p>\n

Just add volume.\u201d<\/em><\/p>\n

\"Image\"
Source: Justin Bennett\/Twitter<\/a><\/figcaption><\/figure>\n

Also joining the rallies, according to Bennett, is leading memecoin Dogecoin (DOGE). He says DOGE<\/a> is in the middle of a breakout, with its first key resistance at $0.25, and a final resistance level at all-time highs above $0.75.<\/p>\n

\u201cDOGE is breaking out.\u201d<\/em><\/p>\n

\"Image\"
Source: Justin Bennett\/Twitter<\/a><\/figcaption><\/figure>\n

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Featured Image: Shutterstock\/MoVille<\/span><\/em><\/p>\n<\/p><\/div>\n