-Verge is likely to retest the 200D dynamic support
-And the major support area around 50 sat
-This is also a confluence of last Fib support level 0.786
-I recommend placing Buy orders only when there are Bullish reactions
-Or any potential reversal signs around 50 sat range
-This will give extra confirmation that this level is important
-The trade idea...
Verge is on the floor of its price and the first upward wave can start soon. The total structure seems to be a flat and wave B has a diametric pattern and wave C can start to double in next month.
PLEASE DON'T FORGET SETTING STOPLOSS.
I gave out the buy signal on verge back in late march early april for a long term position at 38 sats.
Since then xvg did have a nice surge in price and currently is having a pullback.
I will continue to hold the position as the 2 month chart now begins to compress.
I might consider to add more if we can hit support.
Hi friends is hope you are doing well and welcome to the new update on Verge coin. The XVG coin has surged more than 500% with US dollar pair and 205% with Bitcoin pair. In my previous post I posted analysis with US Dollar pair if you missed that then here is the link for that...
-hits daily support at 65 sat and the price shoots up 20%
-there is a new trendline resistance just above 70 sats
-two option to enter a trade here
-but the break/close above the trendline
-or wait for a retest of support at 65 sat
-place a stop loss below daily key support
Looks like a Inverse H&S Forming.
Right shoulder has less volume to confirm.
20MA is holding as support. Above 20MA is bullish.
HODL for now gains are to be made.
Not financial Advice!
Good Luck Traders!
We are within a correction movement for XVG and we can see that we also have support in the 70 sats region, let's see how the price behaves in this support we also have the 20 periods moving average support test, we may have bulls on this area, but it is a dangerous buy, the asset will only look bullish above 80 sats area. This is also a 50%...
i want be clear on this analyse because that one is very simple if you play it on Long Term.
You can Compare directly XVG to ZIL ( because Zil mooned days ago ) + i am checking XVG from ages.
i used Bittrex Exchange because XVG is listed from long time on it, so my indicators are more accurates.
i used only ichimoku cloud + 3EMAS 50/100/200...