mxcrypt

Indecision with XVG - A Continuation Pattern Emerging?

BITTREX:XVGUSD   Verge / Dollar (calculated by TradingView)
A lot has been written about XVG in these past few weeks, with many being hopeful. This led only to disappointment as the XVG continued to show poor performance. Most original Technical Analysis charts (including my own) indicated what appeared to be strong evidence for a symmetrical triangle. This suggested a quick price breakout in the positive direction for another strong impulse wave. Conservative targets for the currency suggested a price around $0.50, while more aggressive values were upwards of $0.70 for the near term.

Whats going on with XVG?
XVG appears to be in a deep continuation pattern ( rectangle ). Strong support is shown around $0.135 and strong resistance around $0.250. Over the past two weeks, the price has oscillated wildly between these two points, forming a rectangle pattern. Despite this, there has been a fairly consistent decrease in volume traded for the currency suggesting that some kind of breakout is occurring in the near future. The MACD for the currency is beginning to roll upwards, suggesting that the price could break positive as the crypto market cap grows off yesterday's flash crash to 0.650G$. Additionally, the MACD roll as well as low trade volume could potentially indicate an oversold condition. In other words, a decision is on the horizon.

Look for a breakout at $0.25, and then at $0.30. If these targets are met, then XVG will likely test new highs at $0.50. However, it is important to bear in mind that the rectangle patterns can indicate reversal such that the price could just as well break downwards. If this occurs, then expect resistance at around $0.09. While, this is not my primary count due to MACD and volume , I would like to cite this as a possibility.


Confidence 3.0/5.0
Keep it real
@mxcrypt
Note
These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article.

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BTC             Wallet :3PPENyabp2gsEfNahLyhMsgdwtjbodrtFm
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i bought 200k verge 0.006 USD now i am in a big profit ....

But i know Verge rallies is coming soon and hold my coins
the min price for this coin will be 15 $ .... it is not joke ! it is privacy
Strong people will pay for privacy and anonymity coin .
+1 Antworten
VERGE IS FUTURE !

Hi every one ! just hold your coins it is an undervalued coin ...
which coins is better than a more privacy coin like verge with this price ?!
Moreno is near 380-400 $ now ...
so as i know this coin belong to strong investor need privacy !
no one know how have how much verge and where go transaction with tor network
Strong team & big trade markets

The rallies of Verge is coming soon .
Just hold our verge coins .
i hold my verge coins and wait.... .
Antworten
brenguyrulez partizan30
@partizan30, $15!? That would put the market cap at like ~265 Billion? I don't think that is going to happen.
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what many analysis do not mentioned is : markets depend on each other
so when Bitcoin increase the whole market move and when decrease whole market will fall ....while the analisis is VERGE/USD
I think VERGE/BITCOIN is more trusted .
+1 Antworten
mxcrypt partizan30
@partizan30, Agreed. I think the looking BTC/sats is very insightful.I will try to do more of this in the future. I think both the BTC/coin and USD/coin pairs should be looked at for a thorough analysis
+1 Antworten
good realistic analysis. Nice
+2 Antworten
mxcrypt Rocannon
@Rocannon, Thx! Hope it helps. I am still positive on XVG for the long run, but there is a lot of un-realistic analysis on XVG. It seems that people are far too busy charting out a $2+ wave 5 when wave 1 has yet to begin! XVG may take a week or two more to go, but I think that soon the currency will gain traction.
+1 Antworten
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