On the 9th of October Vertcoin rejected the 200 Moving Average on an 8H timeframe chart and immediately started to rise. It broke previously formed resistance at $1.5 and continue to move up.
Today Vertcoin experienced a strong growth against USD, gaining over 22%. It stopped at the 527.2% ($2.17) Fibonacci retracement level applied the corrective wave after the downtrend channel breakout. This is the first resistance, that yet to be broken if VTC/USD will decide to rise further. While it is holding Vertcoin could correct down towards key support level at $1.5.
At the same time break above the $2.18 should result in an uptrend continuation with the next target being at 727.2% Fibonacci, that is $2.86 level.