Cryptocurrencies

VIA technical analysis

VIA seen from the temporality of 1W we can see how the current candle structure is forming a rounded floor which is likely to push the price towards a much larger bullish movement, the penultimate candle managed to close above the consolidation, followed by a doji candle, the current candle is bullish, however, with little volume, the pressure of sale is maintained, we can observe it in the superior wick that has formed until the moment, the indicator RSI has formed us a double floor with bullish inclination, this shows us a bullish divergence that is easily visible in the graph of above, the weekly demand is located in the 0.00002050.

VIA seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the structure is forming a rounded floor, in the RSI indicator I have pointed with an oval the area where the average in relation to the period of time between December 2018 and March 2019 made a movement similar to the one that the RSI indicator is making again in relation to the current period, If the situation repeats itself we could have a major upward movement like the one that happened previously and that I have indicated by means of a yellow circle in the RSI indicator, our first gain objective is located at 0. 00007567, if we have a strong volume input, this target can be easily reached, the second gain target is located at 0.00017044.

In conclusion, VIA maintains an excellent bullish pattern after consolidating in the weekly support located at 0.00002050, if the price maintains the bullish curvature, the probabilities of reaching the first profit target are very high, otherwise, the price could fall to the weekly demand, even fall towards the second zone of demand located at 0.00001062, I recommend to be very attentive to the action of the price in 1D and never forget to place stop loss in all your operations to avoid possible invalidations during the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

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