fbpx
Price Analysis

Verge Continues to Trade with a Downtrend; Expected to have a Come Back Soon

Verge recently released their newest version of V5.3.1 of codebase. The developers reported that the performance has been improved at many level including bug fixes which were common issues with V4.

XVG to USD Price Analysis:

Verge Price
Verge Chart By TradingView

When observed closely, XVG price movement show moderate volatility. The coin was initially seen trading at $0.00404 as on September 16, at 15:55 UTC. The price of Verge from then escalated tremendously by 20.97% as on September 18, at 14:30 UTC trading at $0.00488.

Yesterday, the price was dropped by 12.04% at 04:20 UTC, trading around $0.00430. However, the current trading value from then is slightly dropped by 5.46%.

Verge is seen in the bearish zone as of now. So, the ideal decision for the investors might be ‘buying’ the currency. However, the decision depends on how you wish to proceed with the short-term and long-term movement.

Short-term Prognosis:

XVG Price Chart
XVG Price Chart

In the short-term movement it is seen that if traders can analyze the highest and lowest point, the intra-day trading can help them enjoy some returns. And as of now, traders might want to keep a keen look at the next coming lowest point to hit the long position in the trade.

Long-Term Prognosis

XVG Price
XVG Price Chart

In long- haul movement, it seems that the value is dropping with a constant downtrend.

The calculated resistance and support levels are as follows:

Resistance Levels:

R1: $0.004797, R2: $0.004991, R3: $0.005241

Support Levels:

S1: $0.004353, S2: $0.004103, S3: $0.003909

Tags

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

Related Articles

Back to top button
Close