Categories: Price Analysis

Verge Price Breaches 17-Month High; Trades Above $0.0100

Verge (XVG), one of the top 100 cryptos of the global market, is seen trading with a steep hike in the price and currently trades above $0.0100, breaching the 17-month high after having breached in the previous year. Verge, just like any other altcoin of the market, is seen trading with a steep price trend against the US Dollar. After having pulled back to 6-month support as low as $0.0034 in the last week of the previous month, the XVG price has gained over 200% in less than 30 days.

After an utterly negative sentiment from the previous YTD high marked at $0.00989 in June 2020, the XVG coin has strengthened amusingly until the current spike. Until the recent high, Verge price was seen facing a stringent resistance at $0.0100 on the daily chart against the greenback.

Verge Price Analysis

XVG/USD Chart By TradingView

At the press time, XVG /USD was seen trading at $0.0106 on the 2-day chart after facing a stringent resistance in the 2nd quarter of the ongoing year. With a volatile burst of momentum, Verge currency breached the upper Bollinger Band resulting in widening volatility. The coin is holding clear support from 50-day and 200-day daily MA at $0.00488 and $0.00449, respectively.

Bitcoin, the largest cryptocurrency in the market by market capitalization, is also seen trading close to its All-Time High, currently trading around $19.3k. The MACD indicator draws a bullish crossover due to a steep change in demand. Similarly, the RSI is also breaching the overbought zone due to amplified demand, which lies at 82.90.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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