Verge ready for a short
Updated
Verge XVG has been strong for few weeks now trading in a beautiful channel. Movement at this rate is not sustainable with RSI now showing divergence.
Look for a break of the channel down as the signal for a short-term sell.
Good trading!
Look for a break of the channel down as the signal for a short-term sell.
Good trading!
Note
As expected Verge dropped to support albeit after the spike around news. Current bar looks promising to move back up to the recent high.
Remains to be seen how the market will react longer term to Verge's strategic way forward.
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