In today's post, we will watch the movement of XVG coin with Bitcoin pair.
The formation of and powerful divergence:
On the price action of XVG formed a from October 2019 to the end of January 2020. And after entering in the potential reversal zone the price action moved up and after a small rally dropped down again in the potential reversal zone then took another powerful and produced more than 205% rally.
Different indicators and oscillators and turning bullish:
If we watch the different indicators and oscillators on the . Then oscillator has given bull cross from the oversold zone, the is also turning and if we watch the indicator then positive directional indicator is already above the negative direction indicator. And the is up with the value of 45 that is showing the power of bulls. Therefore we can expect another upward move from here.
The simple moving averages and another spike:
If we watch the different simple moving averages on the with the time period of 25 50 100 and 200 then it can be clearly observed that since the price action has crossed up all these moving averages after that for the first time the priceline is retesting the 25 as support. And after moving sideways on this 25 finally the price action has spiked more than 15% in a single day.
And the more important indication on this chart is that we have the smallest time period moving average above all other simple moving averages and the biggest time period moving average with time period of 200 below all the other moving averages. Therefore a complete open mouth is formed by the simple moving averages that can be a really big signal.
A big move:
Now I would like to share a very important move by the price action of verge coin on the long-term monthly chart. And that move is the formation of pattern. I also shared this move of XVG coin last year in July 2019. And at that time I found that the price action has found a final support at 0.00000048 sats . Therefore it would be difficult for the priceline to break down this level. Since then the priceline is moving above this level in the potential reversal zone of . And at any time it can start the formation of final leg. And the completion of this leg can lead the price action to produce up to 4400% big profit move.
However I have defined two type of targets 1st one are the secure sell targets and other one are the aggressive sell target up to the completion of shark’s leg. And these targets are as below:
Buy between: 0.00000208 to 0.00000048 sats
Secure sell targets: 0.00000671 to 0.00001331 sats
Aggresive sell targets (Upto the completion of Shark's leg): 0.00001793 to 0.00002194 sats
If we take a look at the history of the price action of XVG coin. Then it can be seen that whenever the BTC turns the Verge coin turns more than Bitcoin . The obvious example can be seen in 2017. Therefore when the Bitcoin will start the next big move the XVG has potential to produce more powerful move than Bitcoin . Therefore we can expect a big move by the Verge coin to hit the sell targets as per above pattern before the Bitcoin achieves any big price level.