Justin Bennett Sets VeChain’s 2021 Long Term Price Target

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Last Updated on 16 April 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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VeChain continues to amaze everyone this year. The small altcoin has gone truly parabolic this year.

It’s upward trajectory increased as from end of December 2020 when both Michaël van de Poppe, the Amsterdam based trader who has become Cointelegraph’s go-to guy for technical analysis and Justin Bennett. The technical analyst who’s excellent at predicting the small altcoin’s path, claimed they saw an imminent breakout.

At that time, VeChain was trading at $0,019.

Fast forward four months or so and it was already at $0,09 by beginning of April. At that moment, Bennett stated that:

Vechain is trying to break out from a symmetrical triangle today. While I don’t like Friday/weekend breakouts due to the lack of volume, it’s still a bullish development for VET.

Even if the market struggles to break the 10 cent resistance area for a few days, the recent higher lows are constructive. If VETUSDT can hold above $0.09, the market should continue to pressure $0.10 resistance. Above 10 cents is a “true” blue sky breakout.

VeChain blasted off as Bitcoin broke through the $60k range and by now, we’re talking VeChain around $0,17 or almost tenfold of what it was back in December of 2020.

Advertentie.

August 31st

It’s in fact done so well that Bennett has now made a longer term prediction as well. Although in the short term he does expect a pullback at first, the longer termed prospects are truly staggering according to him.

Justin stated that:

VeChain doesn’t have to break the top of this channel to reach $1 this year. The top of the channel on August 31st is $1.85. On September 30th, it’s $3.10.

VeChain fans will be glad to hear it of course, knowing Bennett’s stellar track record on predicting the small altcoin so far this year.