• The medium- term outlook continues in consolidation
• The bulls remained in control of the market within the range.
Supply zones: $0.0098, $0.0100, $0.0200
Demand zones: $0.0080, $0.0070, $0.0060
XVGUSD Medium-term Trend: Ranging
VERGE medium-term outlook continues in a range-bound market. $0.0096 was the high attained during yesterday session as the bulls remained in control within the range. The bulls strong pressure at $0.0096 with a long wick testing the resistance line during yesterday session has sustained the bulls in the market.
The 4-hourly opening candle at $0.0093 in the supply area was bearish. The bulls’ brief returned push the price up to $0.0094 in the upper supply area.
Price is above the two EMAs, this indicates that the bulls are in control of the cryptocurrency in its medium-term perspective. The stochastic oscillator signal pointing up at around level 79% suggests the momentum in price of XVGUSD is in an uptrend.
VERGE is ranging and trading between $0.0096 in the upper supply area and at $0.0082 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 Con is in a bullish trend in its short-term outlook. The cryptocurrency is initially up at $0.0093. The bulls’ pressure increases the momentum in price to $0.0095 in the upper supply area. This implies that the bulls are in control of the coin.
Price is above the exponential moving average-4, this indicates the bulls remained in control of the coin. However, the stochastic signal pointing up at around level 70% is an indication that the momentum in price is in an uptrend at the moment in its short-term outlook.
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