Verge Price Analysis: Will Bears Continue To Influence The Price Of XVG?

  • Verge (XVG) price is on a slow recovery path due to the continuous presence of bears in the market

Verge (XVG) price has been on a roller coaster ride since the month of July and has been massively affected by the crypto market volatility. The bears are still making headlines pushing the price towards the downward range. Verge has been trying to recover, but with the bears being strong as seen from the weekly chart where the price has been fluctuating in the range of $0.0053 – $0.0061, it looks like Verge has plenty of efforts to make.

Latest Statistics of Verge (XVG): 

As on August 07, 2019 at 5:00:48 UTC, current statistics are as below:

  • Current trading price of XVG is $0.0058
  • The coin is currently ranked at 74th position in the crypto market.
  • Current market cap is around $87,402,667
  • 24 h volume is at $1,732,353
  • The coin fetches >9000% ROI and Circulating supply is 15,865,666,619 XVG

XVG to USD Price Comparison:

Verge Price Prediction
Verge Price Chart

Verge price has been trying hard to release itself from the bear grip and had succeeded to some extent on Aug 4 and Aug 5 as seen from the weekly chart, but the bears are mostly ruling the roost.

From a high of $0.0058 on July 31, the price of XVG slid to $0.0053 on Aug 01 within 23h 20m to the extent of 8.61%. The price did recover and had a decent run on Aug 04, when the price went up to $0.0058 in a matter of 2d 5h 45m to the tune of 8.40%. This was short-lived as within next 5h 40m on the same day, XVG fell to $0.0054 to the extent of 5.93%. On Aug 05 within 19h 45m, the price had a rally to the extent of 12.01% at $0.0061. However, within 15h 35m the price fell to $0.0056 to the extent of 8.52%. Today the price is at $0.0058, recovery being to the tune of 3.57%.

Verge is working on consolidating its position in the market but with the bears around, looks like the recovery will be in a slow manner.

Verge Price Prediction:

July was not a good month for the coin as it was mainly in the bearish zone. August had brought some hope in the form of an upswing in the price but with the bears still going strong, Verge price should not expect much in the nearest short-term. Analysts expect this trend to continue as the market has not stabilized but Verge may pick up the required pace during the medium-term and has a target price of $0.01 for the year-end.

Conclusion:

Investors can only wait for the market to stabilize and hold their investments, keeping in view the future potential of the coin. Short-term and day traders should trade at their own risk as the market is still very volatile.

Ruti Vora

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

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