VeriCoin Up For More Growth

From what it appears VeriCoin is breaking out of the triangle pattern formed through July till October. After the final bounce off the uptrend trendline on the 26th of October, Vericoin went up sharply from $0.29 to $0.5 mark, producing a 70% growth.

However, the tricky part is that daily close still appears to be below the downtrend trendline which could result in a corrective move down towards the uptrend trendline once again.

Therefore investors could be waiting once VRC/USD will close above the $0.5 and that’s when the uptrend might accelerate.

The first upside target is the previous all-time high level produced on June 30th, standing at $0.77, where the second target is 127.2% Fibonacci retracement level at $0.94. It is very likely that $1 psychological round number would act a big role and could be a strong resistance if VeriCoin will, in fact, move that high.

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