- On the downside, if the price continues its fall, the market will revisit the lows of $0.0080 and $0.0090.
- The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.
XVG/USD Medium-term Trend: Bearish
- Resistance Levels: $0.0100, $0.0110, $0.0120
- Support levels: $0.0090, $0.0080, $0.0070
Yesterday, May 30, the price of the Verge was in a bearish trend zone. The coin had earlier been in a range bound move since May 19. The crypto’s price had been fluctuating between the levels of $0.0100 and $0.01500 in a tight range. Yesterday, the bears broke the lower price range and the candlestick’s wick tested the $0.0090 price level but closed at $0.0097 support level.
The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. On the downside, if the price continues its fall, the market will revisit the lows of $0.0080 and $0.0090. Meanwhile, the crypto market has reached the oversold territory of the daily stochastic indicator but below 40%. This indicates the market is in a bearish momentum and sell signal.
XVG/USD Short-term Trend: Bearish
On the 1-hour chart, the XVG price is in a bearish trend. The coin had been trading in a range bound movement in the last two weeks. The crypto’s price had not been trending as against other cryptocurrencies. Yesterday, the bulls tested the $0.0110 price level and were resisted.
The market was in a downward trend as it fell to the previous low of $0.0097 . Meanwhile, the price of the Verge is trading at $0.0094 as at the time of writing. Meanwhile, the crypto has reached the oversold region of the daily stochastic indicator but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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