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XVGUSD

XNGUSD can make another attempt to breakout the cloudHi guys and gals and welcome to the new update on Verge coin. There are only few hours left in Verge block reward halving. As for now, the block reward is 400 coins per block and after this halving event, it will be decreased to 200 coins per block. This means that the supply will be decreased and for example if that demand will remain the same. Then automatically the balance will be changed and demand will be increased. And as a supply and demand rule of trading the price can be increased. Struggling to breakout the 100 SMA on long term chart: Now if we watch on the weekly chart then after breaking out from the falling wedge pattern. The price action is still struggling to break out the 100 simple moving average. The SMAs on daily chart and expected golden cross: On the daily chart the price action is above all simple moving averages. The 25 simple moving average is moving up to provide the support to the price action. And the most important thing on this chart is that 50 simple moving average is likely to form the golden cross with 200 simple moving average. Once it will be formed then it will become a very strong support for the priceline and a strong bullish signal as well. On The 2 day chart the different support and resistance levels can be seen very clearly. At this time the price action is likely to move down after being rejected from $0.0075 resistance. The XVG has the recent support at the $0.006 and if it will be broken down then it has next support at $0.005. If the price action will break out the $0.0075 resistance then the next resistance will be at $0.0085 and after that we have the big resistance at one cent. The ichimoku cloud on long-term is still bullish: Now I would like to draw attention towards a very powerful bullish gesture by the priceline of Verge currency on the weekly chart. And that is the Ichimoku cloud has turned bullish and the price action is entered in the cloud. At this time XVG is having support of the conversion line and baseline as well. The lagging span has already crossed up the price action and the conversion and base lines as well. Therefore we can expect that after this correction move the price action can start another upward rally to make another attempt for the breakout. Once the cloud will be broken out then it will become a very powerful support for the priceline of XVG coin that will be helpful for the long term bullish rally. Conclusion: On the short-term and midterm the price action of XVG might move more down to re-test the previous support level or at least the 25 simple moving average on the daily chart. However, after the correction rally it can start another strong bullish rally to break out the bearish ichimoku cloud soon.
X
by moon333
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.
XLong
by moon333
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
X
by moon333
3
Don't miss the great buy opportunity in XVGUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (0.00600). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XVGUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 73. Take Profits: TP1= @ 0.00830 TP2= @ 0.00960 TP3= @ 0.01120 TP4= @ 0.01660 TP5= @ 0.02040 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤
XLong
by ForecastCity_EU
9
Don't miss the great buy opportunity in XVGUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (0.00600). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XVGUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 73. Take Profits: TP1= @ 0.00830 TP2= @ 0.00960 TP3= @ 0.01120 TP4= @ 0.01660 TP5= @ 0.02040 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤
XLong
by ForecastCity
20
Don't miss the great buy opportunity in XVGUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (0.00600). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XVGUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 73. Take Profits: TP1= @ 0.00830 TP2= @ 0.00960 TP3= @ 0.01120 TP4= @ 0.01660 TP5= @ 0.02040 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤
XLong
by ForecastCity
18