Verge (XVG) Price Analysis – March 5.Since the beginning of 2019, Verge performance has remained very low due to low trading volume in past months. Against Bitcoin, there’s no significant positive move except the Dollar pairing which saw a reversal last month. In the last 24 hours, XVG -2.25% market cap is about $93 billion with
Resistance levels: $0.007, $0.0075, $0.008;
Support levels: $0.0055, $0.005, $0.0045;
Testing $0.0055 strong support after a long decline, Verge (XVG) took a reversal trending in an ascending channel pattern. The bulls are steadily coming up as a positive move is now revealing on the 4-hours MACD.
Yesterday, XVG saw a heavy pull back which lasted to the lower channel. The bears are exhausted. Now, the bulls are preparing to walk up
As price action follows trend line, a break-down could send price straight to $0.0055 support and beyond. In the same vein, a break is likely to find resistance at $0.008. The 4-hours Stochastic RSI is suggesting a surge.
Pairing Bitcoin, Verge is moving in a downward direction as price approaches the next support level at 150 SAT support. The bears are in play. As shown on the 4-hours Stochastic RSI, the selling pressure in nearly exhausted at
Above the channel, an upward movement is likely to shoot price at 210 SAT resistance level. If the scenario occurs, a bullish move is signaled. Below the channel, however, a swing low could sink price to the bottom of 140 SAT support.
At the above support, a rebound is more likely to take the token higher as the level remains a strong entry point for buyers. In case a rebound failed, XVG will experience an ‘ugly’ decline which might deflate its value in the market. By then, the 4-hours MACD would be at the lowest level.
Verge (XVG) in 2019
Wondering what can 2019 bring for XVG? For an in-depth fundamental review on what to expect for Verge in 2019 please proceed to our article “How does 2019 for Verge (XVG) Look? Fundamental Review“.
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