VCash found the support at $0.14, that has been rejected two times in July and August. Although throughout past 3 months it hasn't been able to establish a trend while providing price spikes accompanied by a high trade volume.
However, during the past three weeks, VCash has shown an uptrend pattern, printing higher highs, and higher lows. In fact, it has rejected 200 Moving Average on each occasion of a correctional wave down.
It could be that VCash has finally established an uptrend and could start moving higher. While the first strong resistance could be at $1 psychological round number, the second target is seen at $1.36, supported by two Fibonacci retracement levels.
Keeping in mind that range trading could continue, break below the 200 Moving Average will invalidate this outlook.
However, during the past three weeks, VCash has shown an uptrend pattern, printing higher highs, and higher lows. In fact, it has rejected 200 Moving Average on each occasion of a correctional wave down.
It could be that VCash has finally established an uptrend and could start moving higher. While the first strong resistance could be at $1 psychological round number, the second target is seen at $1.36, supported by two Fibonacci retracement levels.
Keeping in mind that range trading could continue, break below the 200 Moving Average will invalidate this outlook.
Comment:
First target $1.00
Comment:
getting ready to shoot
Comment:
strong resistance at $0.9
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Uptrend begins!
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VCash Price seems to be still quite cheap
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Rally should start shortly
Comment:
Vcash at the resistance which is $0.9, break above required, then it should move towards $1 - $1.06
Trade closed: target reached:
resistance at $1.06 closing for now
Comment:
$1.22 is a key resistance that has been rejected, watch it if breaks above trnd will continue, but at this point down