Analyst Justin Bennett predicts steep corrections for VeChain (VET) and Dogecoin (DOGE)

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Last Updated on July 4, 2022 by Bitfinsider

According to well known crypto analyst Justin Bennett, as long as Bitcoin trades below the $20,000 mark, two large-cap digital assets will experience significant declines.

The top memecoin Dogecoin (DOGE), according to Bennett’s 101,000 Twitter followers, has broken down from a rising wedge formation, signaling the continuation of the decline.

The crypto researcher forecasts that DOGE might go as low as $0.035, or almost 47 percent, below current values.

Source: Twitter

At the time of writing, one DOGE is worth $0.66.

The analyst predicts a negative retest of lower prices for VeChain (VET), a blockchain-based supply chain management system, after VET failed to sustain its breakout from an inverse head and shoulders pattern.

Bennett estimates that if VET loses the $0.022 range, it will fall by 37% to the $0.016 level.

Source: Twitter

As of this writing, VET is trading for $0.022.

Additionally, Solana (SOL), an Ethereum rival, is on the analyst’s radar. He earlier stated that given SOL’s critical resistance levels around $37.40 and $39.25, a retest of $20 “looks likely” to occur in the ensuing weeks based on its weekly timeframe.

After SOL broke down from an ascending channel and turned the channel’s diagonal support into resistance on Friday, Bennett remained steadfast in his prediction for Solana. SOL’s price would be slashed by 34% if it fell to $20 from its current level.

Source: Twitter

As of the time of publication, SOL is trading for $32.76.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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