First off, we all know how much of a pain in the ass Verge is. But MAN will it be worth it. Many people have lost money on this coin, but guys I'm pretty confident that it will come back. It's just a matter of time.
So what I did here was just take the log perspective of Verge's wave count through the weekly chart. And I am AMAZED. This is truly nuts. If we look here, this is a pretty easy wave count. We see that Verge is actually "channeling" logarithmically and following these pretty nicely. We're reaching certain levels in on where we have an immense amount of support. And even though we could potentially correct for a few more weeks, what we have in store is going to be crazy.
So we see our support levels and zones on , but notice the bullishness in weekly . Such a beautiful downtrend. But with the decrease in , it shows that there is really no fundamental catalyst continuing to drive down the price. It's simply just taking a break!
So, I believe we are still on wave 3 here for Verge. And the green lines are our targets. The crazy part is how the top of the would take us near the $1.22 target that a placed on the last Verge post, from doing some crazy Lumen slope extrapolation thing (I may copy it onto this post just so you all see what I'm talking about).
Lets also take a look at the 21 Weekly . All we're doing is bouncing off of that, like we have in the past! This reminds me SO MUCH of Cardano and Lumen guys i tell you!! Do NOT be surprised if Verge gets over $1. I think what we may see here is a target of $1.18 and then a pretty drastic drop to either the target 1 or target 2 line. From there we could possibly correct for months until we reach this support line. Is $3 possible for Verge? Maybe in 2019!
Even with the price being so low, I'm really excited. Everything that I've seen being possible with this coin is STILL possible. Only the more that I look at these charts and study them differently, the more confirmation that I get. A few more updates to come with what is going on in the short-term. I think our correction is nearly done!
Reminder, this is a weekly chart. These targets most certainly won't happen over night.
Here is one wave count that would mean we are done correcting very soon.
This one makes much more sense to me, in the terms that we continue to correct through the end of February, and it would match up with our Daily Stoch RSI movements. If we assume alternation between the two corrections of consolidation waves 2 and 4, then we could assume a shorter WXY correction for wave 4, instead of a longer WXYXZ correction like wave 2.
Now, let's see what's going on in the shorter term!
This is likely what we are to see in the short-term! I'm looking for entry at 8 cents.
I'd like to target the 14 cent range for a possible 80% gain, and maybe even the 18 cent range for as much as 120%! I think this is the likely scenario for a continuation of this correction. Even after we possibly hit these targets, it should be likely for us to correct downwards into a Y position after the market stores more bullishness on this coin.
Very big things to come (through TIME). I've been called crazy with Lumen and Cardano. I'm willing to make a trio with this one, haha!
Short-term target and support zone (Next 2-5 days)
We've found support along this support line. If Verge falls in this support zone or even below it's an instant buy from me. Short-term target is 8.7 cents at the top of this small channelling resistance line.
Verge just dipped into our critical support zone! Like i said, this is a valuable buy from me! I like the chart similarities between this and Bitcoin. So let's be conservative here and target top line resistance for a nice 30% gain with a 3-1 RR. OR, this is nice entry for just long-term holders (EVEN THOUGH IT CAN STILL GO DOWN MORE).
You guys see what happened as SOON as it dropped from this critical support zone? Instant 36% gain. Wow.
Verge can get as low as 3 cents! This 6 cent top may be as high as we go for the next few days.
Another resistance level. Possible 7.7 cent target.
Guys, congrats if you got the buy order of Verge at 3.6 cents. It was a near perfect hit. It looks like these are impulse waves, following the lead of Bitcoin. Here are my 3 targets for each wave, with a possible 94% gain from the next entry level (yellow line). Buying around the yellow line would be a good entry level. BUT, keep in mind that we are still on the defense, Bulls have momentary control, but we can't give up on this total correction just yet.
Expect some more retrace before kicking up to around a 12 cent target.
By the way, some Cup and Handle might fit as well: