Price Analysis

Verge (XVG) Witnesses a Strong Pullback; Calls for Active Support

  • Verge coin may soon find support level at $0.0038
  • The XVG coin has pulled back heavily after a price rise above $0.0052
  • Technical indicators look bearish while the coin trades under selling pressure

Verge cryptocurrency has somewhat controlled the price decline yesterday; however, the coin has not found a support level to start an uptrend yet. The XVG price was rising gradually till it kickstarted this week.

Meanwhile, Bitcoin has noted a bearish impact over the last 24 hours, as the coin has dropped even below $7300. It is to be seen when the crypto market manages to get bulls back in the race.

Verge Price Prediction

Five days ago, Verge price was trading with a stable momentum at $0.00442. After a high spike at $0.0044, the currency remained around its opening price, except for a few closes above $0.0043. On the next day before closing, XVG coin mildly surged above $0.0046. Continuing the uptrend, the coin reached above $0.0052 on December 9 and then started a pullback.

Yesterday, XVG coin’s downward journey took a rest after it traded even below $0.0041. The coin is down by more than 21% right now and is trading at $0.0040 at 04:57:29 UTC.

Verge Price
Verge Price Chart By TradingView

The technical picture for the Verge price trend looks negative at the moment. SMA lines have traced a death cross, after which the short-term SMA line is well below the long-term SMA line.

RSI is marked at 40 showing no extremities while MACD is heading for a bearish crossover. The coin is carrying a selling pressure at least for a week now.

XVG coin is likely to see resistance levels at $0.0045, $0.0050, and $0.0053 while its support levels appear at $0.0038, $0.0035, and $0.0031.

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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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