• The Medium-term outlook continues in a ranging-bound market.
• The bears remained in control of the market within the range.
Supply zones: $0.0095, $0.0098, $0.01
Demand zones: $0.0085, $0.0082, $0.0080
XVGUSD Medium-term Trend: Ranging
VERGE is in a consolidation market in its medium-term outlook. The coin was trading below $0.0093 in the supply area yesterday, with a low at $0.0087, shortly before the close of session.
Pressure from the bears pushed the price from $0.0091 to $0.0088 in the supply area, as the market opens today.
Price hovers around the two EMAs, this indicates an undefined control of the market between the bulls and the bears as the cryptocurrency consolidate.
The stochastic oscillator pointing upwards at around level 43% suggesting the bulls may dominate the market sooner.
XVGUSD is in consolidation and trading within $0.0091 in the supply area and $0.0088 in the demand area.
A breakout at the upper supply area or breakdown at the lower demand area followed by a retest may occur, hence patience is required to allow this to happen before a position is taken.
XVGUSD Short-term Trend: Bullish
VERGE is in a bullish trend in its short-term outlook. Today’s market opens on a bullish note. Market opens at $0.0089 and the bulls have pushed the price to $0.0091 in the supply area.
Bullish pressure pushed the price up north to $0.0092, an indication that the momentum in price of VERGE is in an uptrend in its short-term perspective.
The stochastic oscillator signal pointing upwards at around level 68% suggests that the price of VERGE might remained in an upward trend sooner
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