The MACD line is above the signal line, which is a bullish sign. The 12 day EMA is above the 26 day EMA, which is a bullish sign. Resistance 1: 0.213, Resistance 2: 0.215, Resistance 3: 0.219, Support 1: 0.206, Support 2: 0.203, Support 3: 0.2.
[coinmc type=”chart” coin=”VIA”]
Viacoin has slumped below yesterday’s pivot of 0.209. If bears continue to sell off, we could see prices slump as low as 0.2.
For the MACD, it crossed above the signal line. Positive momentum to the upside is expected. As Viacoin is a volatile security, crossovers are common and not reliable signals by themselves.
The Moving Average Convergence Divergence (MACD) helps to identify turning points in the market. When used in conjunction with the RSI, the indicator can help spot overbought and oversold levels as well as the trend of momentum for a specific security.
RSI is heading north at 51.1. This signals that bulls could stay in control for awhile longer.
The RSI is a popular momentum oscillator that moves between 0 and 100. The RSI can help predict bullish and bearish reversals when it exceeds levels 70 and below 30.
A separate indicator is the Average True Range (ATR) which is used for measuring volatility. Using the ATR, one can validate the importance of price movements. A bullish reversal with an increase in ATR would show strong buying pressure and reinforce the reversal.
Pivot points can also be used to calculate prices moving forward. A high of 0.21 is expected tomorrow along with a low of 0.206.