2,600% rally could be on the horizon for an altcoin, according to crypto analyst Justin Bennett

The carefully adopted strategist tells his 75,000 Twitter followers that decentralized provide chain administration community VeChain (VET) may very well be able to see $1.60 below one situation.

“Bitcoin above $65,000 = $1.60 $VET by December,.

Bennett says that so long as Bitcoin (BTC) could make new highs above $65,000, VET ought to have the ability to pull off a 1335% rally within the subsequent two months. If the crypto markets find yourself occurring an prolonged market cycle that lasts properly into subsequent 12 months, then the analyst says VET might even have the ability to make it as excessive as $3.00, which is a 2627% rally from present costs.

If December peaks in need of that and the cycle runs till March 2022, #VET is probably going within the $2 – $3 vary.”

Supply: Justin Bennett/Twitter

Within the close to time period, Bennett sees instant checks of resistances at $0.13 and $0.14. Vechain’s all-time excessive is $0.28, which continues to be a 150% transfer away. At time of writing, VET is buying and selling $0.11, up almost 10% on the day, in keeping with CoinGecko.

“$VET seems even higher now.”

Final month, Bennett stated that VeChain was correlated with decentralized blockchain platform Cardano (ADA), and tended to make related value strikes just a few weeks afterward every time.

Supply: Justin Bennett/Twitter

Supply: Justin Bennett/Twitter

Bitcoin, the crypto analyst beforehand stated that BTC wanted to reclaim the $55,300 stage to take care of its momentum. With the king crypto now properly above the $56,000 stage at time of writing, Bennett seems to anticipate Bitcoin to aim one other leg up.

“‘Except $BTC can reclaim $55,500’

Absolute beast mode!”

Supply: Justin Bennett/Twitter
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