Verim Coin has been able to produce higher highs and higher lows during the past month, signaling on a potential continuation of the uptrend. VRM/USD has rejected the uptrend trendline followed buy a rejection of the 3/1 Gann Fan.
While moving higher under heaving trading volume it broke above the 8/1 Gann Fan and corrected back to 50% Fibonacci retracement level at $2.72, which today, in fact, was rejected, acting as a support.
Considering that Verium continues trading above the 200 Moving Average and all facts mentioned above, there is a good chance that the growth will continue, at least to the next Fibonacci retracement level -161.8% at $5.2. This is over 60% growth that could take place in the near term future. Potentially it can break above and go much higher.
On a downside, only a daily close below $2.5 should be able to affect Verium uptrend and reverse is down.
While moving higher under heaving trading volume it broke above the 8/1 Gann Fan and corrected back to 50% Fibonacci retracement level at $2.72, which today, in fact, was rejected, acting as a support.
Considering that Verium continues trading above the 200 Moving Average and all facts mentioned above, there is a good chance that the growth will continue, at least to the next Fibonacci retracement level -161.8% at $5.2. This is over 60% growth that could take place in the near term future. Potentially it can break above and go much higher.
On a downside, only a daily close below $2.5 should be able to affect Verium uptrend and reverse is down.
Comment:
Upside potential is still there
Trade closed: target reached
Comment:
rally continues