VeChain’s Favorite Analyst Sees “Blue Sky Breakout”

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Last Updated on 4 April 2021 by CryptoTips.eu

Jeroen Kok

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Lunarcrush’s lists are like the Instagram rankings for the crypto market. As crypto is still largely depending on social media to promote the many smaller coins, it’s always good to know who is the largest voice out there and who the most respected one.

When it comes to small altcoin VeChain, the most trusted voice is that of CEO Sunny Lu, the most respected one in the past few months, that of technical analyst Justin Bennett, who’s predicted every step of VeChain correctly for the past quarter.

What does he expect for April?

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VeChain prediction for April 2021

In his (now still) free newsletter Cryptocademy, Benett forecasts more good tidings for VeChain, although he does admit that the $0,1 ceiling might take a while to break.

He stated:

VETUSDT is trying to break out from a symmetrical triangle today. While I don’t like Friday/weekend breakouts due to the lack of volume, it’s still a bullish development for VET.

Even if the market struggles to break the 10 cent resistance area for a few days, the recent higher lows are constructive. If VETUSDT can hold above $0.09, the market should continue to pressure $0.10 resistance. Above 10 cents is a “true” blue sky breakout.

Summarizing his view that he expected some consolidation before a next bullish move, Justin said:

I think we see VETUSDT accelerate following a daily close above $0.10. Until then, I’d be okay seeing some consolidation below resistance at least until next week.