Trying to ignore the latest correction that affected all the coins, it looks like XVG is going downward until it find the next support level.
While you could argue that it is technically a pennant, it is looking more downward than symmetrical, (but I am sure I could force a more symmetrical drawing if I really wanted).
XBG will slowly keep going down to , 850 or even 780 before bouncing back up.
I am still positive for that coin as the dev team is still active and following the roadmap, they are just struggling to get their message heard, they need a better PR team.
Comment
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The US shutdown seems to have caused some turmoil in the Crypto markets.
I am a long term holder of XVG, but if you are day trading you might want to look for new lows around 750.
If you are BTC holding, I would wait for lows for a bargain.
@jjknox7, I don't think this is a 'real' spike as such.
Verge released a new version of the wallet to force stealth mode, and this is good news.
But I am hopeful that it will kick start a new upward move.
rakimala
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The breakout is soon. They are forking today
GoodmanSimon
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@rakimala, the proposed fork is to force the hand of some pools, to the everyday user, nothing is changing. I cannot see this changing the direction of the coin in any major way.
As I said, the Dev is ongoing and on track, and, as we saw in the past weeks, they are responding to defect reports and taking steps where needed.
I am not faulting the dev, but the PR.
Also, unless I missed something, the day/time of the fork is not known... is it?
@GoodmanSimon,
The official announcement will be today. The important thing is the stealth transaction feature will be fully usable. It is a major developement on verge. Lets see how it preforms. The whole market seem to move in harmony these says
GoodmanSimon
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@rakimala, one think I have learned is to be skeptical of any unsourced comments on the web.
If/When there is a fork, (or even an announcement of a fork), the market will deal with it accordingly. For now, it is nothing more than a comment by a dev in github, (and reddit).
And, from that comment alone, I can't see the market bouncing up from it, but we will see and rethink our positions accordingly.