Verge Price Fails to Follow Market Sentiment; Appears Bearish

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Verge currency pulls back gradually after hitting the YTD high earlier in June and has gradually shifted to a rank below 100 and 115 after a gradual correction from $0.009 to currently trading at $0.00436.

Verge, as a Platform Making it All Worth the Investments

Verge, although trading below 100 and 115th rank in the global crypto market, is working efficiently and effectively in solving issues regarding high transactional and platform fees. Alongside, Verge was all set to be a “currency” even below Bitcoin Cash, the hard fork of the largest cryptocurrency in the market—Bitcoin existed to turn up as “cash.”

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Verge (XVG) gained all the Spotlight but Failed to Keep up

Verge is seen trading with an evident loss of over 55% from the YTD high marked in the 2nd quarter of the ongoing year against the current trading price. However, as per the recent Verge news updates regarding price movements, the major catch is that XVG coin gained way before the alt season just when a few altcoins boomed, leaving behind the major one’s viz., Ethereum, XRP, etc.

Verge Price Analysis

Verge News
XVG/USD Chart By TradingView

At the time of penning down, Verge price was seen trading below $0.0045 and has clearly lost steady support from 200-day daily MA and retains slight support from 50-day daily MA at $0.00428. Moreover, with a gain in the trading, the price trend of XVG is already hitting the upper 20-day Bollinger Band on the daily chart as the bullish candlewick takes over, but the momentum remains slow and is still away from a steep rise for a complete positive sentiment.

The MACD chart is a clear reflection of a bullish rejection as the MACD line is seen intersecting with the signal line due to no notable change in price. The RSI of Verge currency is also confirming the flattish trend as the indicator moves straight and lies at 51.29 despite the market and Bitcoin hitting major resistances and the latter booming above $18k.

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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