While everyone is waiting for xvg to move, zooming out yielded a large cup and handle forming. A cup and handle, as previously posted about, indicates an approaching increase in price. On the scale depicted in the chart above it looks like the handle could extend down to 1150. For price projections if it follows through we could be seeing the 3000 range. Again, throw a stop loss in at 1000 and if you've been in since 800-900 on the dips then you'll be making profit anyway if it doesn't follow though.
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A double top could be forming on the "handle" which usually indicates a trend reversal aka a down trend, therefore, there are currently two contradicting indicators... xvg is always strange. Watch to see where it is heading!
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Wraith has been compiled, there was a bug with the fees, and it seems to have been announced that it was "fixed"
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If it goes below 950, just below its current support line, that would be reason for concern.
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Looking at the 15 minute chart xvg is forming a miniature cup and handle bull indicator
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Be wary over the next few minutes as it is touching a lower support line and if it falls through we could see a further drop; aka bail out then buy back in at the bottom
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fyi BTC run is most likely causing this (not concerned)
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Once xvg breaks out of the triangle it is forming then we will see it make a large run, right now it is oscillating up and down inside it's boundaries. Haejin posted a graph of this and I may post one once it becomes more clear that xvg isn't being artificially pumped up and down
The volume seems to be increasing on xvg. Can you please update on that? Volume does have effect on it..
thomas58700
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@khan1272, xvg has had increasing random fluctuations in volume in the recent month due to market manipulation and a huge amount of the coins (50%) being in a few people's hands, therefore, it isn't much of a trustworthy indicator. I stopped observing the volumes in xvg as they change so rapidly (obviously they are checked when day trading).
thomas58700
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@khan1272, The increasing buy volume again could also be attributed to this being near the bottom of the handle and ready to rise; I'm currently not commenting and just waiting.
johntradingwick
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@thomas58700 Can you please update? XVG is Breaking out i think. Please update if you can. Thank You.
thomas58700
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@imfamousrajat, It is being pumped up and down, I caught that last wave up then jumped out
Minatou
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Exactly, pushed them somewhere else already to avoid future drops
SohaibSdq
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Im in at 1079, what should i do? i did hold when its at 1750 and 900, hold is not my problem i can hold till one month
thomas58700
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@SohaibSdq, I'm still holding, I'd be concerned as I said if it went under the 950 range, but we should be seeing an upward trend very soon as it is coming back down to the center oscillation line I may post another chart to show this
ShawnAkers
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I think there is too much FUD around this coin for it to bounce back quickly. =( I could be wrong, but that is my beliefs.
Shasdam
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What do you make of the current dip? Do you think it will bounce off the support line or breakthrough in a free fall?