- The bears remained in dominance both in the medium and short –term outlook.
- Responsible selling my be considered at key areas.
Supply zones: $0.0095, $0.0100, $0.0105
Demand zones: $0.0079, $0.0076, $0.0075
XVGUSD Medium-term Trend: Bearish
VERGE is in a downward trend in its medium-term outlook. After breaking the $0.0082 of the lower channel the bears pushed the price further down at $0.0077 in the demand area shortly after yesterday opening. XVGUSD dropped to $0.0074 before the end of the session.
The 4-hour opening candle today at $0.0078 at the demand area was bullish. XVG is around fib 23.6 which is a trend continuation area, an indication that the bears might remained in dominance of the market.
Verge is initially down and broke the support line at $0.0074 in the demand area. The stochastic oscillator signal pointing downwards at around level 16% in the oversold area suggests the momentum in price of the coin is in a downtrend.
XVGUSD Short-term Trend: Bearish
The cryptocurrency is in a downward trend in its short-term outlook. After breaking the lower price limit at $0.0076 in the demand area the bulls pushed the price to $0.0080 in the demand area shortly after the opening before momentum loss.
The breakdown in price at the lower price limit at $0.0077 confirmed the bears’ take over as the market opens today. Price is down at $0.0077 in the demand area as the journey continues down south.
Price is below the lower limit range and below the EMA-4 suggests the momentum in price of the coin is in a down ward trend.
The stochastic signal pointing up at around level 37% is an indication that change in trend is likely to occur in the future. Hence traders need to be patience before taking a position.
PLEASE NOTE: Dapplife.com is not 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.