Verge is one of the best privacy coins to invest in now amongst the other two renowned viz., DAPS, and XMR specifically for privacy. Why XVG? The question has a simple answer as we emphasize on the price dynamics and recent partnerships of the Verge, we see that it joined hands with MobiePay and MeconCash. Moreover, it was just in the previous month when XVG/USD had breached the yearly high around $0.0096, and since then, it has retested supports as low as $0.0053.
Verge currency in this regard is in close competition with DAPS as networkers tend to believe in technology, and the same for the latter is remarkable. DAPS, however, is not even amongst the top 500 cryptos of the market, while Verge is one of the top 100 and is ranked on the 83rd position, presently. XVG coin holds a market of $100 million, while DAPS is holding the MCap of $6 million. However, the latter is falling in a peer to peer competition with Verge as it is the fully private blockchain with Proof of Audit protocol.
With a momentum glared on the platform of Verge, XVG is believed to be potential enough to breach above its ATH once it regains the momentum.
$Xvg has enough traction to blow past it's own ATH
Congratulations Verge army for holding.
It's going to be 2017 all over again!!!
— Crypto thayne (@cryptosommelier) July 28, 2020
In this regard, the intraday trading of Verge has been stupefying as it recuperates bullish divergence against the US Dollar.
Verge Price Analysis
On the four-hourly chart, XVG coin reclaimed yearly highs in the previous month when the entire market was falling apart. This brings us to a confirmed fact that Verge is least influenced by Bitcoin or market pressure. On the other hand, when the entire altcoin market was blooming in the ongoing month, Verge drew a downtrend and could only rise as high as $0.0075 against the greenback. With intraday pullbacks, the coin towards the closing of the month is trading around $0.00603.
Additionally, if we emphasize on Verge’s 3-hourly chart, it is drawing a lower high pattern along with a downtrend noticed on the 4-hourly chart. While the entire altcoin market spiked, XVG price plummeted to test support around $0.0053 after hitting the last leg of lower high around $0.0071 just when BTC regained the lost momentum, and the market was trading in green.
Verge’s current trading price has led to losing support from daily Moving Averages, i.e., 50-day and 200-day after nosediving from $0.0070 and $0.0065. The price trend of XVG/USD is hitting the upper 20-day BB due to the intraday strengthening of the coin. However, the 20-day Bands do not project any extremities.
The technicals are back to holding positive sentiments due to intraday bullish crossover, and the MACD line is seen crossing above the Signal line. And the RSI after having risen from the bottom is now lying at 48.72 without any trading extremities. The major support and resistance to watch out for lies at $0.0053 and $0.0070, respectively.