VERGE - A LOOK AT WHAT IT HOLDS FOR THE FUTURE - CryptoManiac101
XVG / USD TA
Here we are finally taking a quick look at VERGE with USD pair. Instantly we see that we are following downward channel ones again. It's actually not a bad sign as if we take a look at historical movement, we will see that nearly 100% of the times, Verge produced a mini pump with a strong breakout right around this area.
To add to the excitement of an exhausted XVG holder, we are also tracking just around one of our strong support zones. What does that mean? That means that this area of 0.0044 and secondary support of 0.0015 hold the highest chances of a strong bounce as they have previously been tested as demand zones.
Quick Q and A!
Do I currently hold Verge?
No
Would I buy Verge at current price?
Yes, with tight stop loss. Entering into XVG at current price is low risk since the risk would be just around 2% as we are near strong support line.
What are the chance of Verge dropping towards the second support line?
If we break current support then I'd say over 60% chance we fall towards secondary demand zone.
Would you hold 100% of your portfolio in XVG?
Never, I usually recommend around 5% portfolio allocation towards higher risk crypto assets. This is one of them.
Here we are finally taking a quick look at VERGE with USD pair. Instantly we see that we are following downward channel ones again. It's actually not a bad sign as if we take a look at historical movement, we will see that nearly 100% of the times, Verge produced a mini pump with a strong breakout right around this area.
To add to the excitement of an exhausted XVG holder, we are also tracking just around one of our strong support zones. What does that mean? That means that this area of 0.0044 and secondary support of 0.0015 hold the highest chances of a strong bounce as they have previously been tested as demand zones.
Quick Q and A!
Do I currently hold Verge?
No
Would I buy Verge at current price?
Yes, with tight stop loss. Entering into XVG at current price is low risk since the risk would be just around 2% as we are near strong support line.
What are the chance of Verge dropping towards the second support line?
If we break current support then I'd say over 60% chance we fall towards secondary demand zone.
Would you hold 100% of your portfolio in XVG?
Never, I usually recommend around 5% portfolio allocation towards higher risk crypto assets. This is one of them.
