Long

Currently long on underdog $VIA/BTC

is a coin that goes fairly unnoticed because of its historic low volume and non-existent marketing team. I have been accumulating over the course of the last few months with an established cost basis of 0.000036 VIA/BTC.

I currently see a potential breakout with due to the fact it's approaching a double top formation right in conjunction with a small cup and handle. will once again test the 0.000054 resistance and if it can avoid a triple top and actually breakout this time I believe it will continue on the previous bullish trend highlight in blue. That gives me a estimated target price of 0.0000706 before once again consolidating in the longer trend lines at a new base of 0.0000614.

One thing that goes beyond the technicals is that the project recently took on a new developer who seems to be making a name for himself with the use of VIA. I mentioned more/less does not have a marketing team and for that reason I feel this coin is an underdog. They are one of the few coins in the crypto space that seem to under promise and over deliver. I say this because without a marketing team it's hard for them to promise anything. However, the developer release a roadmap of his vision for in 2017 and beyond and seems to be not only making a good pace but keeping ahead of schedule. They are currently working on implementing segregated witness (segwit) in what will be their 0.13.2 update.

One other aspect that makes me optimistic on this coin is from following the order books on poloniex.com. Over the last 4 months the order books have varied from as little as 5BTC to as high as 30BTC in January. Then even though the price continued to rise the order books started to weaken - showing a clear sign of a reversal coming. Over the last few weeks with rumors of the segwit implication soon to be released the orderbooks have grown to as high as 50+BTC. Few large purchase orders towards the top of the order books seem to be getting filled and those who want in are doing so by making market orders. To me this is a very bullish sign.

DogGuy

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.