• The price of Verge is likely to encounter a price breakout or a price breakdown in view of a long period of range-bound movement.
• A bullish break at the $0.0087 price level will make the crypto rally above the $0.0090 price level.
• A bearish break at the $0.0071 will depreciate the crypto to a low above the $0.0060
Resistance level: $0.0080, $0.0085, $0.0087
Support level: $0.0071, $0.0065, $0.0060
XVGUSD Medium-term Trend: Ranging
VERGE remains in a range-bound market in its medium-term outlook. Yesterday, the price of the Verge was in a bearish trend. The coin’s price fell below the support range of $0.0071. The cryptocurrency had been trading between the $0.0071 price level and $ 0.0087 overhead resistance.
The 4-hourly candle opens today on a bearish note at $0.0072 in the demand area with a long wick broke the support line.
Price of Verge further dropped to $0.0069 in the demand area broke the support line as the session opens today in a sideways movement.
With the price of XVGUSD below the EMA-4 and the stochastic signal pointing down at level 28% suggests the momentum in price is in a downtrend.
XVGUSD is ranging and trading between $0.0087 in the upper supply area and at $0.0071 in the lower demand area of the range. Patience coupled with a retest is needed before a position is taken.
XVGUSD Short-term Trend: Bearish
On the 1-hour chart, the crypto’s price is in a bearish trend. The bulls tested the overhead resistance shortly after today’s opening session and were resisted. The EMA-4 and the EMA-50 are trending southward.
The bears broke the EMAs to a low at $0.0070 price level as the session opens today. Price of XVGUSD further dropped to $0.0088 and broke the support line in the demand area.
With the price below the two EMAs and the stochastic signal pointing down at level, 28% indicate the momentum in the price of Verge is in a downtrend and sell signal.
PLEASE NOTE: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.