Not sure there are still many Verge believers out there, but for those looking for a buy entry point, here's my analysis.
XVGBTC is now on a downtrend, doing lower highs and lower lows. The magical Wraith protocol helped a bit the price, but probably because of the supporters who really believed that having this strong fundamental news is enough to push the price above the incredible 20X? Pump that happened in December. It seems that was already calculated in the price and having the delays in releasing the Wraith dissapointed a lot.
Anyway, sellers are in control of this coin and want to take profits. I expect the price to go down to the 786 fib line and bounce from there. That could be a fair entry point for the XVG fans out there, to invest in something that sounds indeed solid for the long term but still probably overvalued at the moment.
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Nice TA. Here's the only tricky thing. Verge (along with many other alts) was "setup" to breakout this past weekend but we all know what happened instead. The entire market crashed and left broken triangles everywhere.
So my question is does that correction actually reverse the trend for verge to see us touch 600-800 sat range again before mooning or could we potentially moon here.
Basically, comes down to was the 600 sat we touched a few days ago the end of a C wave ABC correction?
VietMo
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@jdharward, I think so, XVG will be come 600 - 700sts, before break to high target 2000-3000sts
So my question is does that correction actually reverse the trend for verge to see us touch 600-800 sat range again before mooning or could we potentially moon here.
Basically, comes down to was the 600 sat we touched a few days ago the end of a C wave ABC correction?