• The Medium-term outlook continues in a range-bound market
• The bulls remained in control of the market within the range.
Resistance levels: $0.0080, $0.0090, $0.0100
Support levels: $0.0075, $0.0071, $0.0070
XVGUSD Medium-term Trend: Ranging
Verge medium-term outlook continues in a range-bound market. The bulls increased momentum pushed the price to $0.0082 in the resistance area as the market opens yesterday.
The cryptocurrency dropped to $0.0072 in the support area before the end of yesterday session as the coin returned back within the range.
Today’s 4-hour opening doji candle at $0.0076 was bullish as the bulls remained dominant in the market. XVGUSD further rose to $0.0080 in the resistance area. Price is above the EMA-4 and the signal of the stochastic oscillator points up at around level 45% an indication of upward momentum within the range in the medium-term.
XVGUSD is ranging and trading between $0.0109 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: Bullish
The cryptocurrency is in a bullish trend in its short-term perspective. On the 1-hour chart, the XVGUSD price is now in a bullish trend zone.
The crypto’s price is now facing another resistance at the $0.0076 price level. The bulls’ pressure pushed the price further to $0.0078 in the resistance area, shortly after the session opens today.
The 1-hour time frame shows that a double bottom pattern has now formed; this suggests a bullish dominant market. The bulls are likely to remain dominant in the market a shown in the chat.
The crypto’s price is above the EMA-4 with the stochastic signal pointing up at around level 62% implies the momentum in the price of VERGE is in an uptrend in its short-term.
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