Viacoin Going Higher and Higher

Viacoin managed to break through the triangle pattern, producing the highest price since July, while hitting $2.08 mark. Prior to that the support at $1 area has been rejected several times after which price broke above the 200 Moving Average.

With the given facts, current tendency, printing higher highs, and higher lows is likely to continue. At this time VIA/USD is trading at $1.45 and could potentially rise towards 227.2% Fibonacci retracement level at $3.15, that is crossing with the Gann Fann trendline. This would make Viacoin a potential gain of 120% in the near term future.

While the $1 is holding, a continuation of the uptrend is highly likely, although break below $1 could extend the consolidation and break below $0.8 will potentially result in the reversal of the trend, from up to down.

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