Following the previous idea on VeriCoin, it has reached the upside target and rejected it. Now clearly there is a strong resistance at $0.65, which is the 127.2% Fibonacci applied to the last corrective wave down. The rejection was clean followed by a strong correctional move down.
Currently, VeriCoin is likely to continue trading within the range between the $0.65 resistance and $0.40 support. At the same time, with the fact of the resistance being rejected there is more probability of further decline, unless the resistance will be broken.
Currently, VeriCoin is likely to continue trading within the range between the $0.65 resistance and $0.40 support. At the same time, with the fact of the resistance being rejected there is more probability of further decline, unless the resistance will be broken.
Comment:
Seems VeryCoin is breaking above the resistance, need to see the closing price