Price Analysis

Verge (XVG) Shows Positive Signs; Subtle Price Recovery Starts

  • Verge holds a mild bullish sentiment after it had a dip at $0.0034
  • The XVG coin has been forming lower high pattern since mid-January
  • The coin is heading towards a volatile phase indicating a probable price recovery
  • Technical indicators hold a bullish bias while the 2-day chart also exhibits an uptrend

The crypto market seems to have decided to re-enter a bullish zone this year. After the noticeable price surge in the first half of 2019, the market had to struggle to stop the constant price decline till the year ended. After initial consolidation, cryptocurrencies have started to proceed with an uptrend, including XVG coin.

Verge Price Analysis

Verge News
XVG/USD Chart By TradinView

Verge cryptocurrency saw a steep price rise on January 14, where it has formed a bullish trendline. The price went as high as $0.0041 and then traced a lower-high pattern. After breaching the $0.0039 support level, it found a support level at $0.0034. The XVG coin has already started to rebound.

Meanwhile, the MACD indicator is just above the zero-line while awaiting a bearish crossover. The Bollinger band is moving towards a volatile phase as the coin is trading at $0.0036.

Verge Price News

Verge opened at $0.0035 two days ago, and after having a plunge below $0.00345, it kept escalating steadily. The XVG price is up by 9.15% and may continue to trade higher if it manages to cross the resistance above $0.0036. The short-term SMA line is above the long-term SMA line here, noting a positive sign. Also, RSI is at 61, showing a neutral momentum.

Tags

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.

Related Articles

Back to top button
Close