Crypto analyst Justin Bennett thinks VeChain (VET) could skyrocket several times above its current price.
In a new YouTube video, Bennett says if VET breaks $0.10, it’s likely to keep moving up in price.
“As long as it’s above that $0.06 area, I’m still bullish on VET over the next year, and I think if we get above $0.10, that $0.103 cent area, then I do think we get that move back toward the $0.12 region, and potentially $0.15 and then some.”
The analyst also notes that if VET takes off this year, potential breakout areas could be as high as $0.38-$0.40.
“That could be the objective if VET does break out of this pattern later this year.
Of course, it has a long way to go to do that.
But if it does break out, you’re probably looking at a target up around $0.40 for VET.”
VeChain is a supply chain optimization blockchain built for enterprise solutions offering a list of services to improve product lifecycle management and data certification.
The platform’s native token, VET, is currently trading at $0.093816, up nearly 8% in the past 24 hours.
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