Tuesday, October 19, 2021

Analyst Justin Bennett: VeChain (VET) Could Be Set For a Fresh Bull Run

Justin Bennett, a prominent crypto analyst and trader, has stated that the altcoin market as a whole could be presenting some golden opportunities derived from the continued positive trend of Bitcoin (BTC), the largest cryptocurrency by market cap.

According to the analyst, as long as Bitcoin (BTC) maintains its bullish momentum, altcoins such as VET, the native token of the decentralized supply chain management platform, VeChain, could be set for a fresh bullish run.

Read Also: CTI Says VeChain is a Better Eco-Friendly Blockchain, Compared to Bitcoin, Ethereum, Cardano

Captioning a chart for illustration, Justin Bennett tweeted, “VET has had two false breaks since September. However, it reclaimed the April trend line on Tuesday. As long as BTC continues to behave, this is the time to load up on altcoins that are lagging, IMO.”

Bennett also has more to say on the current trend of Bitcoin (BTC) in the market. In his close observation on Bitcoin (BTC), the analyst pinpointed a few key price levels for the flagship digital currency.

According to the trader, there is one hurdle left before the first and largest cryptocurrency surges closer to record new all-time highs.

Read Also: VeChain Launches Solution Aimed to Revolutionize the Way Sustainability Is Tracked In the Fashion Industry

Justin Bennett tweeted, “Last hurdle before $60,000+. Needs a close above $54,300 to flip it to support.”

According to CoinMarketCap, Bitcoin (BTC) is trading at $54,393, with a relatively 7% price upsurge in the last 24 hours.


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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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