XVG has been taking on some water recently but we're seeing a slow but steady recovery.
Given the recent indicators and trends, I expect XVG to recover anywhere as high as 1365 satoshis, and to have a correction down to around anywhere as low as 865 satoshis.
NOTE: This is not financial or trading advice. Take everything with a grain of salt and make your own judgments before you set any positions.
Is there any solid chance it breaks the triangle at around 1300/1400 early, before the last correction?
If not, can I ask why you don't think so?
Thanks for the graph, following.
yeeyee2020
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@kitkat16, Well, given the recent trends I would say it's pretty unlikely that it'll break the triangle at around 1350 satoshis.
If we do, then it wouldn't be unreasonable that the correction would be delayed for a bit longer due to the bullish sentiment in the market.
However, especially in XVG, we've seen rather quick corrections to overbought markets.
Also, given the pretty disappointing Wraith protocol release, I doubt that there's much remaining confidence left. For at least the near future, it's going to be an overall downtrend.
kitkat16
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@michaelhlee20, thanks for the detailed reply, very much appreciated!
next target?