There is a possibility for the beginning of an uptrend in XVGETHTechnical analysis:
. VERGE/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 33.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00004900 to 0.00004400). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00004900)
Ending of entry zone (0.00004400)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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TP4= @ 0.0000774
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TP7= @ 0.0001412
TP8= @ 0.0002050
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