By Solomon Odunayo
A pseudonymous crypto analyst, identified on Twitter as VeChain Justin, has recently pinpointed a significant trend in VET/USD pair. According to the chartist, the bullish signal is indicating that VeChain (VET) could surge over 377% from current prices.
A couple of hours ago, the digital token VET exhibited a parabolic movement that took its price beyond $0.10 after a long wait below the support level. At the time of writing, VET is trading at $0.112, with a 2.5% price increase in the last 24 hours.
Parabolic Move in Sight for VeChain (VET)
According to Justin, VeChain (VET) is poised for a parabolic move anytime from now, stating that the digital currency has formed a bullish Cup & Handle Pattern, coupled with an increasing volume that could bring about over 377% price increase.
He captioned a chart for illustration, stating that his next price target for VET is $0.5.
VeChain Justin tweeted, “#VeFam, parabolic move in sight. VeChain has formed a massive bullish Cup & Handle Pattern with matching volume that can launch us +377%. This aligns closely with 4.618 Fib extension. Expect consolidation in handle before lift off. $VET target: $0.5008.”
#VeFam, parabolic move in sight. #VeChain has formed a massive bullish Cup & Handle Pattern with matching volume that can launch us +377%. This aligns closely with 4.618 Fib extension. Expect consolidation in handle before lift off. $VET target: $0.5008. 🚀
Not financial advice. pic.twitter.com/S6G4iYfxls
— Justin Ⓥ ∞ (@VeChainJustin) April 7, 2021
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Justin further told the VeChain (VET) holders to expect consolidation before the pattern could complete:
“Again, consolidation is expected for this pattern to complete. This dip is a necessary evil. Hold tight. It will be a bumpy ride. See you at the top.”
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