this could happen
it happened before
it can happen again
I bet a move like this would usher in some disbelief! LOL
Verge is an open-source cryptocurrency launched in 2014
Initially, the name of the cryptocurrency was Doge Coin Dark
Verge offers anonymous transactions, tangling the IP address and geolocation of its users using Tor and I2P technologies.
Regardless if it happens in 3 days or 3 weeks, Verge (XVGBTC) will end up green.
We mapped a perfect retrace on the 1st of July (see it below).
Now that the 0.786 Fib. retracement level has been hit, which is also where MA200 is sitting at right now, Verge can work...
We are bullish long-term on Verge (XVGBTC) and all other altcoins pairs/cryptocurrency projects...
But, what is happening now with this XVG chart?
We are seeing many altcoins that just continue to go, they are growing and continue to grow, so we can expect the same here right?
It is possible we are witnessing the classic ABC Correction from EW...
XVG / USD TA
After nearly a 3.8 Million percent gain back in 2017, we have retraced 99.54% thus far and we might not be done just yet as we are currently riding rising channel, which has high chance of breaking towards the downside at least in the short term.
Bullish case scenario would be a break towards the upside but that would require Bitcoin to be bullish...
Keeping it simple, this is what I am looking at for Verge (XVGBTC).
We have a descending channel and also a new low hit.
After this new low, the chart is giving out all the signals pointing to a strong move up.
Long-wick on the low/bottom hit candle.
Strong bullish divergence with the MACD and RSI.
Altcoins market producing strong gains for small-cap....
XVG is in a fairly strong price adjustment phase and I think the selling pressure is very weak and XVG is almost ready for the upcoming pump.
You could consider buying XVG in the 57-62sts zone for a rally to 80-85sts or possibly breaking up to 120sts or even 150sts by the end of this year.
It will be dangerous if XVG falls off 55sts
-Verge is on a daily downtrend since the top at 104 sat
-On the other side, it is forming a Bullish descending channel
-Confirmation is the breakout the trendline resistance
-The key area to watch is 57 sat as it has been previous resistance before
-Which has the high probability to flip new support territory
-Upside potential, it might revisit the 90 sat...
We are seeing so many bullish indications in XVG. To start the price is above short-term support line and, broke an important resistance and made a pullback to confirm the support, and now it is doing a high accumulation called the symmetrical triangle
This asset is pretty bullish.