VERGE (XVG)TIME FOR A CHANGE? Bears in control but for how long?
VERGE ( XVG ) seems in deep water for the last months, huge drop on the price and the general Cryptos market situation doesn't really help, but there might be some rumours of improvement on the price, here's a possible quick trade idea, using the 4 hours charts and the daily combined we have notice some signals..
We see a supporting ascending line starting on the 14th august that could indicate a top bottom , it did take advantage on the oversold situation on the day and recover to a price to a 278 satoshi on the 2nd sept, at the time of writing the price is been 3 days red (214satoshi), that could create support and bring the price to recover back to the 278 satoshi area, is also possible the continuation on the RSI oscillators to bring again the volume up and aim to targets on the 350 satoshi in the next weeks, the great picture on the long run might be different, expect some resistances and possible drops if the conditions changes in the next days.
If the support line will be broke, expect a huge drop, we recommend to look to this level and set your stop loss accordingly.
Hope this will inspire some new ideas, don't forget to hit the like/follow button if you feel like this post was helpful, that's the best way to support us and our work.
Happy trading days
C-Monkeys
We see a supporting ascending line starting on the 14th august that could indicate a top bottom , it did take advantage on the oversold situation on the day and recover to a price to a 278 satoshi on the 2nd sept, at the time of writing the price is been 3 days red (214satoshi), that could create support and bring the price to recover back to the 278 satoshi area, is also possible the continuation on the RSI oscillators to bring again the volume up and aim to targets on the 350 satoshi in the next weeks, the great picture on the long run might be different, expect some resistances and possible drops if the conditions changes in the next days.
If the support line will be broke, expect a huge drop, we recommend to look to this level and set your stop loss accordingly.
Hope this will inspire some new ideas, don't forget to hit the like/follow button if you feel like this post was helpful, that's the best way to support us and our work.
Happy trading days
C-Monkeys
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.