Long
XVG - Verge Technical Analysis
Dear Viewers,
What is Verge, also known as XVG ?
Verge is a decentralized cryptocurrency designed as an enhancement for the standing Bitcoin blockchain. It evolved with the aim of maintaining personal privacy, flaunting the capability of rendering fast and efficient transaction for individuals and cooperate bodies.
The company discloses that it aims at easing transaction for people around the world by “bringing blockchain transactions into everyday life”. Verge is said to grants individuals and businesses the flexibility of receiving and sending liquidities within a twinkle of an eye.
Verge, makes it possible for its users to create instant, anonymous transactions using advanced technology of blockchain built on services like Tor and I2P, which conceals data like IP-addresses and geolocation. Moreover, it functions using ‘Simple Payment Verification’ (SPV), which grants rapid confirmation.
Have You Heard of Wraith Protocol?
Wraith Protocol, launched late 2017, is technology that obscures IP address and blockchain transaction using Tor and stealth address.
It grants users the ability to choose amid running a public and private ledgers transaction on the Blockchain, and such benefit is said to be the first of its kind. In other cryptocurrency, users are not allowed to choose between public or private transaction. The only thing that has ever existed in similitude to this is making transactions private with no further option.
How wraith protocol works ?
Wraith, when switched ON for transaction, it hides data and makes it undetectable through blockchain explorer. Contrary, in situations where a user desire transparency and does not want to go private, the OFF switch on Wraith Protocol would initiate this, and all transaction data would be made visible on the public ledger.
Nevertheless, Verge still delivers the aptitude of total veiling of IP addresses and geolocation even without Wraith protocol, all due to the adoption of the most advanced version of TOR integrated into the Core Wallet.
Conglomerating both to function together make Verge the only uniquely genuine cryptocurrency that is untraceable.
Here is my Technical Analysis.
Now that XVG's correction is done, we are finally finding our selves in a bullish trend line regarding XVG/BTC. XVG's price is up because it's rocking a large partnership & creating a unique privacy cryptocurrency.
But on the downside, XVG also got hacked (it was NOT a 51% attack. It was a hack though, a mining exploit. But it was fixed, handled & forked quickly).
In my TA I used Elliot Waves theory with 5 uptrend waves, followed by a ABC correction, after this correction we should see another rise in price that will bring us head to head to important resistance levels XVG needs to break in order to see a new A.T.H.
Keep an eye on my charts !
Raw_Blitz Out.
What is Verge, also known as XVG ?
Verge is a decentralized cryptocurrency designed as an enhancement for the standing Bitcoin blockchain. It evolved with the aim of maintaining personal privacy, flaunting the capability of rendering fast and efficient transaction for individuals and cooperate bodies.
The company discloses that it aims at easing transaction for people around the world by “bringing blockchain transactions into everyday life”. Verge is said to grants individuals and businesses the flexibility of receiving and sending liquidities within a twinkle of an eye.
Verge, makes it possible for its users to create instant, anonymous transactions using advanced technology of blockchain built on services like Tor and I2P, which conceals data like IP-addresses and geolocation. Moreover, it functions using ‘Simple Payment Verification’ (SPV), which grants rapid confirmation.
Have You Heard of Wraith Protocol?
Wraith Protocol, launched late 2017, is technology that obscures IP address and blockchain transaction using Tor and stealth address.
It grants users the ability to choose amid running a public and private ledgers transaction on the Blockchain, and such benefit is said to be the first of its kind. In other cryptocurrency, users are not allowed to choose between public or private transaction. The only thing that has ever existed in similitude to this is making transactions private with no further option.
How wraith protocol works ?
Wraith, when switched ON for transaction, it hides data and makes it undetectable through blockchain explorer. Contrary, in situations where a user desire transparency and does not want to go private, the OFF switch on Wraith Protocol would initiate this, and all transaction data would be made visible on the public ledger.
Nevertheless, Verge still delivers the aptitude of total veiling of IP addresses and geolocation even without Wraith protocol, all due to the adoption of the most advanced version of TOR integrated into the Core Wallet.
Conglomerating both to function together make Verge the only uniquely genuine cryptocurrency that is untraceable.
Here is my Technical Analysis.
Now that XVG's correction is done, we are finally finding our selves in a bullish trend line regarding XVG/BTC. XVG's price is up because it's rocking a large partnership & creating a unique privacy cryptocurrency.
But on the downside, XVG also got hacked (it was NOT a 51% attack. It was a hack though, a mining exploit. But it was fixed, handled & forked quickly).
In my TA I used Elliot Waves theory with 5 uptrend waves, followed by a ABC correction, after this correction we should see another rise in price that will bring us head to head to important resistance levels XVG needs to break in order to see a new A.T.H.
Keep an eye on my charts !
Raw_Blitz Out.
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