Hello Folk,
After the partnership announcement of XVG, we have seen a big dump in the price. It looked like people were expecting a lot more from Verge (XVG). But we gotta stick to a fact here. Whether it is pornhub or some other company, any sort of partnership is always a positive news for any company. Unlike other coins, verge is at least able to prove its worth. This might just be the beginning.
Lets look at the chart. I have drawn some support levels in red if at all we break the 0.618 fibonacci level. RSI is pretty low and MACD is looking good as well for a potential price bounce here. We might see an upward trend coming up soon, unless we see BTC going down. Given, that XVG had a pretty fast rise in price, we might see consolidation for a while, and if it breaks down the 0.618 level, we might test the supports marked in red.
Marked in black are the resistance levels which will be important once we start heading up. These levels will help move up your stop loss and for a possible exit from the trade.
Lets see first if we are able to hold the current support level for a while before heading up. If you are looking to enter, always enter when it just starts going up (on a bounce) or buy when it very low at a price you are comfortable.
I will update this post once we start seeing some action.
Happy Trading!
You can always join us on telegram for signals and healthy discussions. See below.
After the partnership announcement of XVG, we have seen a big dump in the price. It looked like people were expecting a lot more from Verge (XVG). But we gotta stick to a fact here. Whether it is pornhub or some other company, any sort of partnership is always a positive news for any company. Unlike other coins, verge is at least able to prove its worth. This might just be the beginning.
Lets look at the chart. I have drawn some support levels in red if at all we break the 0.618 fibonacci level. RSI is pretty low and MACD is looking good as well for a potential price bounce here. We might see an upward trend coming up soon, unless we see BTC going down. Given, that XVG had a pretty fast rise in price, we might see consolidation for a while, and if it breaks down the 0.618 level, we might test the supports marked in red.
Marked in black are the resistance levels which will be important once we start heading up. These levels will help move up your stop loss and for a possible exit from the trade.
Lets see first if we are able to hold the current support level for a while before heading up. If you are looking to enter, always enter when it just starts going up (on a bounce) or buy when it very low at a price you are comfortable.
I will update this post once we start seeing some action.
Happy Trading!
You can always join us on telegram for signals and healthy discussions. See below.
Comment:
XVG is holding the 732 support level really well so far, If it breaks the support level, we are going down to the next support levels.