Saturday, April 10, 2021

Analyst: VeChain (VET) Has Formed Massively Bullish Cup and Handle Pattern, Could Surge Over 377%

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.

Read Also: VeChain (VET) Is Topping Real Vision’s Poll of Most Undervalued Crypto; Sync2 Lite Version Now Supports Ledger

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.”

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

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

Related Articles

Latest Articles