$XVG Verge - The #crypto Red Pill
Not sure there are still many Verge believers out there, but for those looking for a buy entry point, here's my analysis.
XVGBTC is now on a downtrend, doing lower highs and lower lows.
The magical Wraith protocol helped a bit the price, but probably because of the supporters who really believed that having this strong fundamental news is enough to push the price above the incredible 20X? Pump that happened in December. It seems that was already calculated in the price and having the delays in releasing the Wraith dissapointed a lot.
Anyway, sellers are in control of this coin and want to take profits.
I expect the price to go down to the 786 fib line and bounce from there.
That could be a fair entry point for the XVG fans out there, to invest in something that sounds indeed solid for the long term but still probably overvalued at the moment.
Enjoy!
Thanks for your comments, likes and follows.
Follow me on twitter as well for more updates.
XVGBTC is now on a downtrend, doing lower highs and lower lows.
The magical Wraith protocol helped a bit the price, but probably because of the supporters who really believed that having this strong fundamental news is enough to push the price above the incredible 20X? Pump that happened in December. It seems that was already calculated in the price and having the delays in releasing the Wraith dissapointed a lot.
Anyway, sellers are in control of this coin and want to take profits.
I expect the price to go down to the 786 fib line and bounce from there.
That could be a fair entry point for the XVG fans out there, to invest in something that sounds indeed solid for the long term but still probably overvalued at the moment.
Enjoy!
Thanks for your comments, likes and follows.
Follow me on twitter as well for more updates.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.