Market is in consolidation 70% of the time. The 30% that it isnt, you see a big run up. XVG reached a psychological level at 30 cent/2000Sat. Therefore I see it cutting down 40-60% of its climb. Late comers are buying XVG thinking it will keep going up without a correction. These are the losers of the trades. I expect XVG to go back to previous resistance to test whether this climb was healthy or not. After that I believe XVG will make its way to 50 cent. What are your thoughts?
Trade with care.