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A major cryptocurrency analyst says traders are looking down at the massive altcoin market barrel and ready to blow it.
Cryptocurrency trader Justin Bennett To tell His 109,600 Twitter followers indicate that the altcoin market, the cryptocurrency market excluding Bitcoin (BTC), is preparing to explode.
Altcoin market cap charts are coiling towards something big in October.
Bennett tags Ethereum (ETH), the leading altcoin by market cap, and VeChain (VET), the once-hot blockchain for enterprise solutions, alongside charts.
ETH is trading at $1,354 at the time of writing, up 2% on the day.
VeChain is also up 2% over the past 24 hours to $0.024, a smart contract blockchain platform for enterprises. We offer a list of services to improve product lifecycle management and data certification. VeChain smart contracts move value through VET transactions. Altcoins soared at the peak of last year’s bear market, but have since fallen off a cliff along with most altcoin markets.
But according to BennettVET may be ready to launch a comeback.
VET is starting to look attractive at this range low coupled with the first falling wedge since August.
Possibility of range play in October.”
A few hours after sharing the graph above, Bennett share Another, almost confirms his hypothesis.
“VET is getting really close…”
VeChain is down 91% from its all-time high in mid-April last year.
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