XVG, Oversold With Bull Divs And Potential Bottom
- RSI is oversold on the daily (27.8) (RSI not included on the chart above).
- MACD is making higher lows, while price is making lower lows - bullish divergence.
- This bull div is also confirmed on OBV, which you can see here, with multiple ascending trend lines on the lows
- Price recently hit a low of 362 - the last bottom before this was 325, so it seems very close to bottomed out.
Like most alt coins, it is in a descending pattern, not particularly close to breaking out. But if you are looking for bottomed out coins with divs, this is a great candidate. That said, when looking on the daily, these can take a LONG TIME to play out, so I would not necessarily expect instantaneous movement here.
The previous 2 times that XVG showed similar conditions, it pumped for at least 3x.
- MACD is making higher lows, while price is making lower lows - bullish divergence.
- This bull div is also confirmed on OBV, which you can see here, with multiple ascending trend lines on the lows
- Price recently hit a low of 362 - the last bottom before this was 325, so it seems very close to bottomed out.
Like most alt coins, it is in a descending pattern, not particularly close to breaking out. But if you are looking for bottomed out coins with divs, this is a great candidate. That said, when looking on the daily, these can take a LONG TIME to play out, so I would not necessarily expect instantaneous movement here.
The previous 2 times that XVG showed similar conditions, it pumped for at least 3x.
scott.melker@texaswestcapital.com
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