Vertcoin Heavy Uptrend – How Far It Can Go?

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.

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here