VIC Surges 5.6% as Price Holds Key Support and Nears Major Resistance

VIC has demonstrated resilience in recent trading sessions, maintaining a firm position above the key support level of $0.2754 as it inches closer to the $0.3067 resistance ahead of a scheduled event in two days. Over the past 24 hours, the token surged 5.6% to trade at $0.2908, with a daily low of $0.2718 and a high of $0.2956. The price has been consolidating within a defined range, with strong volume activity—13.24 million VIC and 3.75 million USDT traded—highlighting continued market participation [1].

The $0.2754 support level has acted as a crucial anchor for the asset. After consolidating just above this level, VIC moved into the $0.29 range, with the bottom Bollinger Band (DN) currently at $0.2311 and the middle band (MB) at $0.2674. These levels suggest that short-term volatility has decreased, signaling a period of consolidation [1]. Price action also indicated that bulls were closely monitoring $0.2754 for signs of a potential breakdown or bounce. Steady volume during the support retest further underscored the ongoing interest in the asset even amid tighter trading conditions [1].

The upper Bollinger Band (UP) is currently at $0.3036, aligning with short-term resistance, while the more significant resistance at $0.3067 remains in focus. Over the past 24 hours, VIC approached this key level but failed to close above it. A previous high of $0.5287 recorded in July remains distant from the current price range. However, the formation of lower highs and higher lows near $0.2938 suggests that the market is working through consolidation within a tighter range [1].

Currently trading near $0.2938, VIC has seen multiple candle closures across various timeframes at this level, reinforcing its significance. A successful break above $0.3067 could pave the way for a move toward the $0.34–$0.35 range. Until then, the resistance remains a key overhead constraint for upward movement [1].

With an anticipated event scheduled in two days, market participants have been aligning their expectations with recent price developments. The current positioning of VIC within historical inflection zones has heightened attention, especially as the daily range remains contained yet shows increased interest. The tightening of the Bollinger Bands further supports the idea of an impending directional shift, often seen as a precursor to a breakout [1].

In related activity, the price movement has also had a positive reflection on the BTC pair, which rose 3.4% to 0.052501 BTC. This increase aligns with broader market optimism, though it does not suggest a definitive trend reversal without a confirmed break of key levels [1].

Source: [1]VIC Holds Above $0.2754 as Price Approaches $0.3067 Resistance Ahead of Scheduled Event (https://cryptonewsland.com/vic-holds-above-0-2754-as-price-approaches-0-30/)