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Vergecurrency

Verge coin (XVG) Breaking Out The Bearish Cloud Before Halvinghi guys and gals and welcome to the new update on Verge coin. The XVG coin has a very big event on 13 July and almost two days left in this big event. And that is Verge block reward halving. The breakout from wedge and SMAs: On the long term weekly chart the price action of Verg coin was moving in a falling wedge pattern. At the end of May 2020 the price action has broken out the resistance of this wedge. This is the same week when the announcement of Verge block reward halving was added on different famous sites. It can be also observed that after this bullish rally the price action broke out the 25 and 50 simple moving averages. And at this time it is likely to breakout the 100 simple moving average resistance as well. If the 100 SMA will be completely broken out then it will be a really very powerful bullish signal. Because the price action will have the 100 simple moving average support on the weekly chart. A formation of a golden cross: Now if we switch to the 2 day chart then the price action has also broken out 25, 50, 100 and 200 simple moving averages. At this time the 50 simple moving average is likely to form a golden cross with 200 simple moving average on 2-day chart very soon. Once this golden cross will be formed then it will be a really very powerful bullish signal. Because it considered as a strong buying signal among the trader’s community. Different support and resistance levels: The price action of Verge coin is just rejected from the $0.0075 resistance and likely to move down and retest the previous support at $0.006. If this support will be broken down then we have the next support at $0.005 and if the price action will be able to breakout $0.0075 resistance then we have the next resistance level at $0.0085. And after that the next resistance would be at $0.01. The price action is likely to breakout ichimoku bearish cloud soon: Now I would like to draw your attention towards a very powerful move by the price action of XVG coin. If we place the ichimoku cloud on long-term weekly chart. Then it can be noticed that the price action was moving below the bearish cloud for the long time. But finally the price action has entered in the cloud and has attempted for the breakout. The lagging span of ichimoku cloud has crossed up the candlesticks and the conversion line has formed bull cross with baseline just below the candlesticks. At this time the price action is moving between the resistance of the bearish cloud and the conversion line. And XVG has a big event of halving on 13th July. Therefore we can expect that the price action might make another attempt for the breakout before or after this event. Conclusion: At this time the price action has a very strong support of different simple moving averages and $0.006 level. And halving event in itself is another big support. Therefore we can expect that the price action of Verge coin may break out the bearish cloud very soon. And once this ichimoku cloud will be broken out then it can work a very strong and long term support for the price action as it has been working as a strong resistance for long time period.
BITFINEX:XVGUSDLong
by moon333
XVGBTC completed bullish setup for upto 4470% big moveHi friends is hope you are doing well and welcome to the new update on Verge coin. The XVG coin has surged more than 500% with US dollar pair and 205% with Bitcoin pair. In my previous post I posted analysis with US Dollar pair if you missed that then here is the link for that post: In today's post, we will watch the movement of XVG coin with Bitcoin pair. The formation of Shark and powerful bullish divergence: On daily chart the price action of XVG formed a bullish shark from October 2019 to the end of January 2020. And after entering in the potential reversal zone the price action moved up and after a small bullish rally dropped down again in the potential reversal zone then took another powerful bullish divergence and produced more than 205% bullish rally. Different indicators and oscillators and turning bullish: If we watch the different indicators and oscillators on the daily chart. Then stochastic oscillator has given bull cross from the oversold zone, the MACD is also turning bullish and if we watch the directional movement indicator then positive directional indicator is already above the negative direction indicator. And the ADX is up with the value of 45 that is showing the power of bulls. Therefore we can expect another upward move from here. The simple moving averages and another bullish spike: If we watch the different simple moving averages on the daily chart with the time period of 25 50 100 and 200 then it can be clearly observed that since the price action has crossed up all these moving averages after that for the first time the priceline is retesting the 25 simple moving average as support. And after moving sideways on this 25 SMA finally the price action has spiked more than 15% in a single day. And the more important indication on this chart is that we have the smallest time period moving average above all other simple moving averages and the biggest time period moving average with time period of 200 below all the other moving averages. Therefore a complete open alligator mouth is formed by the simple moving averages that can be a really big bullish signal. A big harmonic Shark move: Now I would like to share a very important harmonic move by the price action of verge coin on the long-term monthly chart. And that move is the formation of bearish Shark pattern. I also shared this move of XVG coin last year in July 2019. And at that time I found that the price action has found a final support at 0.00000048 sats. Therefore it would be difficult for the priceline to break down this level. Since then the priceline is moving above this level in the potential reversal zone of bearish Shark. And at any time it can start the formation of final leg. And the completion of this leg can lead the price action to produce up to 4400% big profit move. However I have defined two type of targets 1st one are the secure sell targets and other one are the aggressive sell target up to the completion of shark’s leg. And these targets are as below: Buy between: 0.00000208 to 0.00000048 sats Secure sell targets: 0.00000671 to 0.00001331 sats Aggresive sell targets (Upto the completion of Shark's leg): 0.00001793 to 0.00002194 sats Conclusion: If we take a look at the history of the price action of XVG coin. Then it can be seen that whenever the BTC turns bullish the Verge coin turns more bullish than Bitcoin. The obvious example can be seen in 2017. Therefore when the Bitcoin will start the next big move the XVG has potential to produce more powerful move than Bitcoin. Therefore we can expect a big move by the Verge coin to hit the sell targets as per above pattern before the Bitcoin achieves any big price level.
Long
by moon333
3
Verge has surged more than 500% | Now what next???Hi friends hope you are well and welcome to the new update on Verge coin. After mid of March 2020 the XVG coin has surged more than 500%. In today's post we will try to understand this move of price action of Verge coin. The expected bullish Shark: In July 2019 I posted a chart. Where XVG was expected to complete the formation of bullish Shark pattern on weekly chart. And I predicted that as per Fibonacci sequence of Shark the priceline will move up from the potential reversal zone atleast between 0.382 to 0.786 Fibonacci projection of C to D leg. Below was that chart: After the completion of the final leg of bullish Shark pattern. When the price action entered in the potential reversal zone unfortunately the priceline of Verge broke down this PRZ level in September 2019 and the stop loss was triggered. Then in November 2019 the price action again entered in the potential reversal zone and during this the price action also started the formation of another bullish Shark. Then after mid of March 2020 the XVG took a powerful police divergence from the potential reversal zone of this 2nd bullish Shark patter and produced more than 500% powerful bullish rally. Breakout from the channel: After March 2020 the price action of Verge was moving within in up channel like every top cryptocurrency. But the difference between the other cryptocurrencies and XVG is that most of them are still moving within this channel even some of them has broken down this channel. But Verge has broken out the resistance of the channel. If we watch on 14th May then the price action was moving at the support of the channel. But after the tweet by the verge currency it turned bullish and broke out the resistance of the channel and rallied more than 200%. Breaking out the $0.005 and moving towards the next resistance level: The XVG had very strong resistance at $0.005. This resistance was not broken out since August 2019. But after the announcement of halving the price action of Verge has broken out this resistance very easily and now moving towards the next resistance of $0.01. Simple moving averages: If we place the simple moving averages with the time period of 25, 50, 100 and 200. Then it can be observed that the price action has crossed up the simple moving averages and the altitude of the price line is very high. And it does not have any immediate support of simple moving averages. Therefore if the price action of XVG will move down to retest the 25 SMA then it can retest the $0.005 level as support that was working as resistance before 8th Jun. Breaking out the big wedge pattern: Now if we switch to the long-term weekly chart then Verge has formed a very big falling wedge pattern. And after taking bullish divergence of more than 500% the XVG has broken out the resistance of this big wedge pattern. During this rally the price action has broken out the 25 and 50 simple moving averages on this long term weedkly chart. And at this time the price action is struggling to break out the 100 simple moving average resistance level. If we take a closer look on the chart then it can be observed that 25 SMA is moving up to form a bull cross with 50 simple moving average just below the candlesticks. If this cross will be formed then it will be a very strong bullish signal and it can trigger more powerful move. The more positive signal is that the volume profile of the complete price action moving within this wedge pattern is showing the trader’s interest at $0.014. Therefore if the 100 simple moving average resistance will be broken out then we will witness a very rapid move up to this level. Now if someone wants to buy Verge here and he or she should wait for one of two things. Whether the price action breakout the 100 simple moving average and then buy or wait for the correction rally up to $0.005 and try to buy at this level. Conclusion: The XVG is trying to breakout 100 SMA on weekly chart once this resistance will be broken out then more powerful rally can be expected. In case the priceline won’t be able to breakout this 100 SMA resistance then a bearish rally upto $0.005 can be expected
BITFINEX:XVGUSD
by moon333
3
XVG Rocket style i want be clear on this analyse because that one is very simple if you play it on Long Term. You can Compare directly XVG to ZIL ( because Zil mooned days ago ) + i am checking XVG from ages. i used Bittrex Exchange because XVG is listed from long time on it, so my indicators are more accurates. i used only ichimoku cloud + 3EMAS 50/100/200 (Green/Orange/Red). Don't forget this analyse not including BTC movements and like 99% of the time, if BTC dip hard XVG won't support his uptrend and crash with BTC. but we have signs off a Rocket mod... So XVG Broke the first soft resistance on EMA50 (Green Line) and passed 60 Sats. Now XVG is trying to break EMA100 (Orange Line) to enter ichimoku red cloud around 108ish Sats. if this one can be broken surely XVG will go retest EMA200 (Red Line) around 150 Sats. So if we breaks 150 with a strong breakout, we will be in a free rocket mod and i can see XVG going to 1000 Sats and here we have old resistance on ichimoku cloud and we can see it clearly. i want to tell you all that this is not a recommendation of buying XVG because it's still dangerous to invest, don't fomo to fast, wait for breakouts, invest the money you don't need for living always! i will add far view on XVG to show everything clearly. Happy Tr4Ding and Stay S4fu !
Long
by thecryer
6