VeChain’s Favorite Technical Analyst Plans Course Of Next Six Months
Last Updated on 30 March 2021 by CryptoTips.eu
Justin Bennett is breaking ground as a technical analyst as of late. Back in December 2020, he correctly predicted that VeChain would be breaking out and was soon followed in his analysis by Michael Van de Poppe. A Dutch analyst who is the official go-to-guy for CoinTelegraph, still the biggest media outlet in crypto.
Ever since then, Bennett has seen his number of loyal followers explode ever since to a very healthy 35,000 fans.
Fun with fibs. ✍️$VET pic.twitter.com/VpSudUEtBu
— Justin Bennett (@JustinBennettFX) March 25, 2021
By now, Bennett is releasing a free weekly newsletter called CryptoAcademy which features his technical analysis of certain crypto coins, and he’s convinced that VeChain is still the easiest to predict.
Most predictable crypto
He stated that VeChain:
Is arguably the most predictable crypto right now. Will we get a retest of $0.06 support? It looks that way, but there are no guarantees. That said, $0.06 was VET’s previous range top from February. It’s also the intersection of a trend line from the December lows.
And lastly, the 61.8% Fibonacci level of the latest rally comes in at $0.06 on the dot. VET has pulled back to the 61.8% retracement since the late December/early January rally, so there’s a good reason to believe it happens again. And if history is any guide, a retest and bounce at $0.06 should trigger a move to the $0.15 – $0.17 area in April.
Furthermore, Bennett on the same day released a Fibonnacci prediction of VeChain over the next six months, but noted that is no guarantee that the pattern continues.
The only reason he did so was because VeChain is following a very distinct pattern recently
So... what you're saying is I get to retire in September lol
— Bobingie (@BOBINGIE) March 25, 2021
VeChain fans were overly enthusiastic though, with one of them responding:
So… what you’re saying is I get to retire in September lol