Viacoin Gained 88% In Less Than 12 Hours

After rejecting the downtrend trendline, Viacoin has gained over 88% in less than 12 hours, moving from USD 0.87 to 1.64 and breaking above the 200 Moving Average as well as 8/1 Gann Fan trendline.

Under a heavy volume, volatility remains high and VIA/USD corrected back to USD 1.22, which is a previously established resistance area. Buying pressure is strong and Viacoin might continue moving higher to test 127.2% Fibonacci resistance level at USD 2.87 or even higher.

The only way for Viacoin to establish a downtrend is a break below USD 0.80, till then USD 1.20 area or 1.00 psychological support should remain a demand zone.

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