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
Read Also: VeChain CEO Sunny Lu Explains Blockchain and Central System Using the Power of Love
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.”
Follow us on Twitter, Facebook, Telegram, and Download Our Android App
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.