Crypto analyst Justin Bennett is bullish on December and believes it will bring rallies to the digital asset markets. Especially, with Ethereum (ETH) and Dogecoin (DOGE) in a good position.
So, Justin explains that the dollar index (DXY) is showing a bullish signal for the crypto markets.
Also, Justin explains.
“DXY looks good for a crypto rally heading into December.”
“Friday’s close back inside this channel indicates weakness.”
“Now for a close below 95.80. Let’s see.”
More so, Justin then mentions the total market cap of crypto (TOTAL). So, as per his predictions, TOTAL is nearing the end of a large bullish descending wedge.
Furthermore, Justin says there’s a divergence between the rising relative strength index (RSI) and the downward price movement.
“TOTAL falling wedge and bullish divergence developing on the intraday charts.”
“Something to keep an eye on.”
Meanwhile, as for Ethereum, Justin noted that next month is a good month for Ethereum. Then, Bennett says ETH is ready for a pump in December. Of course, which can lead to a breakout, as long as it sees more volume.
“ETH approaching a breakout level. Just add volume.”
Lastly, as per Justin, the leading memecoin Dogecoin (DOGE) is the middle of a breakout. Currently, its first key resistance is at $0.25, and a final resistance level at all-time highs above $0.75.
“DOGE is breaking out.”
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