Panjang
Verge Buy on a Breakout Approach
Verge corrected down by 88% since it reached the all-time high at $0.292, and has found the bottom at $0.034. The RSI oscillator formed a bullish divergence suggesting the reversal of the trend.
However, a strong resistance is based near $0.07 area and the break above is required in order for XVG/USD to grow further. If/when Verge will break and close above this resistance the next potential upside target would be at 38.2% Fibonacci retracement level, that is $0.13 area.
$0.13 resistance, should provide a key clue as to the further Verge price development and if broken, the long-term uptrend should be the case.
In any case, let's not forget that first, $0.07 resistance must be broken, and if rejected, the price could move back down to the $0.034 support and even lower.
However, a strong resistance is based near $0.07 area and the break above is required in order for XVG/USD to grow further. If/when Verge will break and close above this resistance the next potential upside target would be at 38.2% Fibonacci retracement level, that is $0.13 area.
$0.13 resistance, should provide a key clue as to the further Verge price development and if broken, the long-term uptrend should be the case.
In any case, let's not forget that first, $0.07 resistance must be broken, and if rejected, the price could move back down to the $0.034 support and even lower.
Nota
Verge broke above the resistance - longNota
Verge back on support, should start moving up from there
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.