XVG to bottoming out, potential uptrend immanent.

XVG has had a great run up and with that a correction of roughly 60%. A clear head and solders pattern in the hourly chart has lead me to believe that XVG is ready to bottom out soon and turn around into a uptrend. There is some clear buying confirmation in this coin due to the fact it's held up nearly 50% of its gains which is great confirmation for long term holders. Although currently I would wait to buy into XVG as RSI has clear bearish momentum and that MACD is still an orange cross over and with XVG is still under the 200 hour SMA. If XVG can reach the 750 Satshoi mark and begin upward movement I would consider buying in at 1,100 Satoshis mark with caution as the coin could potentially continue to fall if the 38.2 fib cannot be broken.


Hope you all enjoy my TA of this coin! Leave a comment and let me know your thoughts as well!

Comment:

XVG appears to be making it's uptrend attempt. Look to buy in now or beneath the 38.2 for entry point. Watch for resistance when nearing the red downward trend line as it could potentially shut down the upward momentum.