Luiserebii

Verge (XVG) Breaks Trend Line - Looking for Support?

BINANCE:XVGBTC   Verge / Bitcoin
The night of New Years was a chaotic day for Verge (XVG), and in the midst of much confusion and fear around the release of the Wraith Protocol, Verge dipped, and continued to bleed, eventually breaking the upwards support trend line . There seems to be some confirmation on the break, and further selling is likely imminent. Where will Verge find support next?

Based on the 3 hour chart, I've identified 4 key support lines for Verge that will be tested in the coming days:
1. ~0.00000814 BTC            
2. ~0.00000596 BTC            
3. ~0.00000416 BTC            
4. ~0.00000263 BTC            

Although there is no telling just what will happen because of the unpredictability of news, I personally believe we will likely find support around the 570-610 satoshis area. Regardless, it's important to stay monitoring the chart to see what support is found, and if it holds up, as for right now, Verge is in free-fall. Wherever it finds support, assuming you believe in the project, it will certainly be a good entry point to buy in to hold for long.

Trade with care.

If you like my analysis or I helped you in any way, feel free to send a tip:
BTC: 37Y9BfaRS65fAXK3swnW8EWG9NDPeF2wrM
ETH: 0x97F20b3536dB21C07691fD46e021bCDd8e49483e
thank you
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