Verge is a similar coin to DASH or Monero but with less anonymity. Nevertheless it tries to solve the same problems. Personally, when I have the choice between those three I prefere the other two.
The interest to this coin was high till the end of december 2017 but then fell to near nothing, as can be seen at the volume.
At coinmarketcap it is on the 32 place with a market capitalisation of even less than 500 million $. https://coinmarketcap.com/
Technically Verge is now within a negative trend channel. This channel is below a long trend line. So this could open some movements to higher prices. To do this the price had to rise to the upper limit. There is a first important zone, the crossing of the limit with a swing trend line.
It needs enough momentum to break through - and to be honest I do not have too much hope for this event.
But IF, then the price could continue to a second aim, the long term trend line.
In whole this trade could do some 50%.
On the other hand, if Verge doesn´t manage to break the channel then it is very likely to fall back and heading to the lower limit of the trend channel, where we also find a swing trend line (0.019$). In this case losses about 35% are possible.
Indicators:
RSI: above 50 and just crossed up the last trend
ADX: no momentum, DI+ and DI- without any signals
Volume: very low!!
Have a nice day! (in Germany it has just snowed but sun is shining)
The interest to this coin was high till the end of december 2017 but then fell to near nothing, as can be seen at the volume.
At coinmarketcap it is on the 32 place with a market capitalisation of even less than 500 million $. https://coinmarketcap.com/
Technically Verge is now within a negative trend channel. This channel is below a long trend line. So this could open some movements to higher prices. To do this the price had to rise to the upper limit. There is a first important zone, the crossing of the limit with a swing trend line.
It needs enough momentum to break through - and to be honest I do not have too much hope for this event.
But IF, then the price could continue to a second aim, the long term trend line.
In whole this trade could do some 50%.
On the other hand, if Verge doesn´t manage to break the channel then it is very likely to fall back and heading to the lower limit of the trend channel, where we also find a swing trend line (0.019$). In this case losses about 35% are possible.
Indicators:
RSI: above 50 and just crossed up the last trend
ADX: no momentum, DI+ and DI- without any signals
Volume: very low!!
Have a nice day! (in Germany it has just snowed but sun is shining)
Comment:
Trade active:
XVG followed the positive trend and reached the upper limit of the trend channel. It´s now important to break through this resistance and to establish a new trend outside the channel and above the swing trend line.
RSI is positive but ADX isn´t showing much momentum, so it could be difficult to cross this resistance-line.
RSI is positive but ADX isn´t showing much momentum, so it could be difficult to cross this resistance-line.
Trade closed: target reached