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Verge (XVG)/Bitcoin (BTC) Monthly chart analysis. This monthly chart analysis of Verge requested on Twitter. It's been a painful one for Verge holders as Verge is one of the better known pump and dumps. HOWEVER, a lot remains to be seen and there could be relief on the way... if you are willing to be patient. There's good news and bad news. The good news: Verge is essentially bottomed out... after a long 3 year downtrend, XVG has seemingly broken out of a wedge pattern in March.. although the formation began in April 2019. Not only that, the formation has formed a double bottom, and looks to be headed to a nice big cup and handle. But that is way too far away to determine. The bad news: After a successful breakout of the wedge, this months candle seems to be bogged down by bearish pressure. However, we still have a few days to go. The RSI jumped upwards a fair amount for such a small price movement, that I would not be surprise if it breaks to the downside to form another bottom and wind up another round of bullish pressure. We MUST wait and see what the next monthly candle looks like before we can make a determination. Best case scenario: This month closes out with bulls winning over the candle to continue the uptrend.. The RSI doesn't go too high. Worst case scenario: The bears win the month, and unfortunately head for yet another bottom. On the bright side... a triple bottom can only be an indicator for a nice strong trend reversal. In my opinion: Because of where the price is in comparison to the last 4 years... if you are going to accumulate Verge, now is the time. Losses will be minimal. I will stay neutral until we can confirm.
by NoobTraderTV
Vergecurrency 1H chart analysis XVGBTCHello everyone and welcome to my analysis on 1H interval for day traders. So firstly I would like to point that verge made a higher high and positively retested previous resistance as support but as there was a pullback from tops around 98 sat we may retest potential support at 86 sat before further upside. First resistance is seen at 98 sat followed by 107 sat where we have 61.8 fib (but stronger resistance is seen higher) at 78.6 fib and 88.6 fib. At the time of writing is really hard to tell which one is going to be more important but looking at order book I would point towards 88.6 as stronger resistance. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
XLong
by Coder775
4
Vergecurrency 1D chart mid-long termHello everyone and welcome to my daily chart analysis of vergecurrency XVGBTC. First of all I would like to point that on daily chart to confirm a bullish formation we need to close above 95 sat. First resistance on daily is seen at this level followed by 61.8 fibonnaci level at 107 sat where also we have 141.8 fibonnaci level from previous measuring. Once this level is broke next important resistance lies at 114-116 sat where we have a double fibonnaci levels of 161.8 and 78.6 from where we may have a retest of 103-107 sat area from where I would expect price to break previous high of 128 and make an attempt on 127.2 fib at 143 sat. After that I would expect price to retest 128-114 level area (yep this zone is larger than other ). And after retest of this levels I would look to get towards 155-162 area where we have multiple 161.8 fibonnaci extensions. Also I would like to point that if we get strong trend upwards we may not respect levels or someone may want to push market higher knowing that there are multiple fibonnaci levels at the same price point to fool people into buying higher. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
XLong
by Coder775
10
XVGBTC 4H chart Vergecurrency trading Hi everyone and welcome to my 4H chart analysis of vergecurrency XVGBTC. First of all its worth mentioning that verge made higher high on 1h and 4h chart which indicates further upside momentum in near term. So with that in mind I would like to spot that there are 4 potential resistances on 4H chart, first one is 78.6 fibonnaci level, next one which in my opinion is a bit stronger is 88.6 fibonnaci and if we will manage to get above those we have 2 extension levels which are 127.2 fibonnaci and 161.8. I would like to point that around 155 sat we also have a 161.8 fibonnaci extension from Weekly and daily chart which means that we may not get to 161.8 on 4H chart as higher time frame has a priority over lower. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
XLong
by Coder775
Verge bigger view for HOLDERS part 2 Hello everyone and welcome to an update to my previous analysis of Verge for holders. If you will read all of that just read my quote at the bottom as I think first line applies perfectly to this. As of writing price is around 0.044 level after pullback from lows of 0.0375. As i pointed out in my previous analysis that around 0.076 we have a strong resistance levels and as you can see it worked out and we had a pullback to previous resistance which NOW worked as support ! which is really important to point because when broken resistance works as support that means we still are in uptrend and with that in mind I would like to point that probably we are going higher to next resistance at 0.091 but as a matter of facts I would like to point that this resistance to me looks week as a bit higher we have a psychological level of $0.1 which is my opinion might be in play and from there we can have a retest of resistance at 0.076 from where we had current pullback if it will hold and probably it will we might see a rally from 0.076 towards 0.21 which is around 300% gain. This shouldn't be taken as granted as for NOW this is one of scenarios but we need more data after break above 0.076 to determinate what may occure once this resistance is broken. We also may have a rally straight towards 0.21 by looking order book on biggest exchanges. Any news from vergecurrency team may lead to bigger gain than that. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
XLong
by Coder775
3
Verge for 60-70% gain in next 10 days Hello everyone and welcome to my next analysis of Verge currency. First of all I would like to point that price made a nice pullback from previous high and found resistance at 61.8 fib which was already twice tested and as we holding above 0.05 I'm expecting price to make a move upwards towards 0.10 in the next few days. You may ask why 0.10 ? Because there is a technical level of 161.8 fib and also if you will calculate XVGBTC you will get around the same fibonnaci levels at this price point which may lead to pullback even to 100% fib. Personally I see that Verge may reach $1 quicker than Dogecoin because of maximum supply of coins. Doge coin has over 129B coins and Vergecurrency has only 16.5B. Also it is worth pointing that every 60 seconds there are created new 10k Doge coins and only 100 Verge so simple math will give you an estimate how much money you have to put into the market to keep price steady. For Dogecoin at current price around $0.3 this give you $3000 and for Verge to keep price it is only $6. And keep in mind that Verge is limited to 16.5 B and there won't be more created when supply will reach its final coins, but for Doge it is unlimited supply. From this example Verge has a potential to be worth x10 Doge price . This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
XLong
by Coder775
5
Whats next on Verge ? XVG BTC Hello everyone and welcome to my next analysis of vergecurrency. First of all I would like to point out that verge retested twice previous resistance at 78.6/88.6 fib and made higher low, also the price is still above 100MA on 4H chart and above 100MA on D1 which indicates strong bullish formation. As the price is aiming higher and higher I would like to point that at around 153-160 sat there is a few 161.8 fibonnaci extension which may work as resistance (I said it may work but it is not granted as it never is with markets) we need more data to decide if there will be reaction on that level or not, and most importantly price of BTC may affect verge price. If you will look at my previous analysis to USD on W1 with link: You will see that I previously pointed out that at certain levels to USD we may see a pullback and we did have a pullback from 0.079 to 0.045 which was a bit more than I anticipated but BTC price had bigger impact on USD pair that it did on BTC pair. As a matter of fact I would be careful when price will reach around 0.1 to USD which should be around 150-160 sat as there is multiple factors that may lead to pullback. For holders I will just hold as in my opinion after next halving price may skyrocket. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
XLong
by Coder775