thomasfar6
Panjang

VERGE - Incoming Reversal? Potential Uptrend.

BITTREX:XVGUSDT   Verge / Tether
Over the past few weeks, Verge has experienced a tremendous increase in value, as the price moves parabolically. However in the recent days, we've seen reverse in price as the bearish trends begin to settle in, the chart indicates that verge is forming a descending triangle pattern which usually shows a bearish market. Unfortunately, this can signify an upcoming decrease for a further decrease.

On the positive note, These trends can sometimes reverse and result in an upside especially if the price break through the resistance that has been formed which is indicated by the orange line.

I expect the price to make a short-term reversal which can be about a 20% increase.

STOP LOSS (AIM TO PUT THEM AT THE SUPPORT LINES):
0.1325

  • MACD - Leaves room for upper growth and the lines look to be Crossing soon.
  • RSI - the relative strength index shows a lot of space for upward movement compared to the potential dance.

  • Orange - Resistance.
  • Pink - Support.

As always trade the lines accordingly.
XVG/USD could follow ADA and XRP. It seems like the USDT trades are doing much better than before as BTC is no longer dependable as it once was. I think 30-50 cents is a easy target for Verge
+1 Balas
thomasfar6 BankofEngland
@BankofEngland, That is possible, Only really 2X from where we are currently at
Balas
First time I've looked at XVG ($ was tied up elsewhere through the hype). Too late for this run, but good call.
+1 Balas
thomasfar6 Box1515
@Box1515, :) Haha yes a lot of hype at the moment.
Balas
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