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..."
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..."
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.