During the correction of last week, there was one clear winner; Verge. While others just followed Bitcoin, Verge showed strength and even TRIPPLED it's Marketcap. It was really giving a clear answer what the market is looking for during a strong correction and why we need a fast & private cryptocurrency. More people will see that BTC will never be the answer and better solutions like XVG will only strengthen their position.
If we look at it from a TA, we can see a clear Elliot Wave on the XVG/BTC, where we are currently moving towards the main correction (C). We have strong support at 1100 satoshi, but if it breaks this support we have a huge buy opportunity at the main correction (C) at around 600-700 satoshi.
I'm waiting for the big correction, but also this current support zone of 1100 is a great buy opportinity. Keep it in your portfolio for the long term!
Read more about this coin at What is Verge and why it could be a stable cryptocurrency.
Comment
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So it's breaking our first support at 1100 Satoshi and now heading to our buying zone.
I would still suggest to buy in between 600-700 Satoshi
at this point do you see verge reaching 1500-2000 satoshi this year?
DCFreak
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What do you think about this possibility:
UnknownUnicorn1520339
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@DCFreak, this thing still looks bearish and agree on your support zone. I would only set the target up way higher at latest ATH & up. Long term coin :)
DCFreak
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@GymTanLimp, oh yeah forsure, the target mentioned is a first target based on the descending wedge. I expect it to go up higher after some resistance at 1350.
Marcin00
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@GymTanLimp, I boungh at 1240 better will be sell and wait for 700-600 or HODL?
UnknownUnicorn1520339
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@Marcin00, hold, but prepare to hold it for at least a week. That's why I always advise to go in with 5-10% of your holdings
nnmanhit
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I think if it’s not able to pass the testing at 800 sat, it will go uptrend instead of go down to 600 sat (from B to C in the picture). Any ideas?