Price Analysis

Verge Price Takes a Slow-down; Calls for a Strong Recovery

  • XVG price maintains its price level above the recent support level of $0.0037.
  • Verge coin faced a major price decline of more than 5% over the last 24-hours.
  • The coin has recently formed a bullish candle above $0.0039.

While XVG coin has seen a steady price drop over the last 24-hours, Bitcoin has maintained its price above $9200 except for a plunge near $9145. Verge price has been ranging between $0.0037 to $0.0039 for the last couple of days.

XVG Price Prediction

Verge opened yesterday near $0.0039 and oscillated between $0.0038 to $0.0039 until it took a nose-dive from $0.003968 to $0.003734 with a decline of 5.90%. Before closing yesterday, the currency managed to climb above $0.0038. Since today morning, the XVG price has been failing to strike a strong rebound. After a few dips below $0.0038, the coin has recently formed a bullish candle above $0.0039 at 08:52:32 UTC.

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Verge Price
XVG Chart By TradingView

The long term SMA line (200-days) is pretty much above its short term SMA line (50-days), showing the current bearish momentum. Despite the sluggish price trend, XVG is trading in the ‘Buy’ phase. While the coin is above its 50-day SMA of $0.0036, it is 36.06% down as compared to the 200-day SMA of $0.0061.

MACD of Verge is in the bullish zone with its MACD line above the signal line. Meanwhile, RSI is just above 50, showing no extremities. Verge may see resistance at $0.0038 and $0.004, while a price decline can take it to the support levels near $0.0036 and $0.0034.

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.

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