In the near term, Bennett sees immediate tests of resistances at $0.13 and $0.14. Vechain’s all-time high is $0.28, which is still a 150% move away. At time of writing, VET is trading $0.11, up nearly 10% on the day, according to CoinGecko. Source: Justin Bennett/Twitter “$VET looks even better now.”
“Bitcoin above $65,000 = $1.60 $VET by December, . Bennett says that as long as Bitcoin (BTC) can make new highs above $65,000, VET should be able to pull off a 1335% rally in the next two months. If the crypto markets end up going on an extended market cycle that lasts well into next year, then the analyst says VET may even be able to make it as high as $3.00, which is a 2627% rally from current prices.
If December peaks short of that and the cycle runs until March 2022, #VET is likely in the $2 – $3 range.”
Looking at Bitcoin, the crypto analyst previously said that BTC needed to reclaim the $55,300 level to maintain its momentum. With the king crypto now well above the $56,000 level at time of writing, Bennett appears to expect Bitcoin to attempt another leg up. “‘Unless $BTC can reclaim $55,500’ Source: Justin Bennett/Twitter
Last month, Bennett said that VeChain was correlated with decentralized blockchain platform Cardano (ADA), and tended to make similar price moves a few weeks afterward each time. Source: Justin Bennett/Twitter
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