Is Verge (XVG) Marching Towards a Bullish Weekend?
While the pandemic is still not stopping its rise of the death toll in many major economies, a few countries are slowly lifting the lockdown. Because of this or just because the market is desperately waiting for a bullish cycle, the coins are seeing an escalation in their prices these days.
As April came to an end, Bitcoin’s price jumped from $7900 to $9301, noting a weekly high price mark. This also happens to be a one-month high price level for the coin. Once again, the leading coin has increased investor’s hopes; let’s see where it takes the whole market this time. Following BTC’s lead, XRP too has managed to trade above $0.21; the altcoin went above $0.23 just yesterday, hitting a monthly high price level.
Verge Price Analysis
In order to maintain its pace, XVG coin has attempted to target the $0.0034 price level though it faced rejection at $0.00335. The coin had risen from $0.0028, with an increase of 17.75%. Before that, Verge kept spending the week on a bit lazy note around $0.0029.
However, after the price rise, the following price corrections have decreased the intensity of bulls. The pullback has cost it a loss of 12.53%, which is why it came down to the price range of $0.0029 today morning. The XVG coin is holding a stable RSI while the MACD chart has just formed a bearish crossover.
Showing a bit of contradiction to its first chart, Verge holds a bullish technical indicator in this one. The moving averages are in the positive zone as the 50-day SMA line is above the 200-day SMA line. Here, the XVG coin has just traced a dip below its 61.80% Fib level, and now, the coin is trying to drift the trend above the 50% Fib level. Moreover, the Bollinger bands are slowly coming back to stability after it saw quite a bit of volatility on the positive side. Therefore, read more about Verge coin future price to know more the possible future of this coin and grab the opportunity to get high returns.