Where Does Verge (XVG) Stand After Its Recent PartnershipA lot of analysts have been skeptical of Verge (XVG) from its very onset. Don’t get me wrong, I’m all for growth of the crypto market and I believe there is enough room for all projects to grow and thrive together. A lot of new traders ask me, “What do you think of Verge?” I reply to them, “It’s a more sophisticated Bitconnect”. What I mean by that is that scams like Bitcoin just take your money and run. Projects like Verge (XVG) keep you thinking that it’s all good and you can still make money. Now, there are traders who ride the way up and down and make money. Verge (XVG) has had some impressive rallies in the last few days and I’m sure skilled traders would have made a lot of money off those pumps. However, there are always some that are left holding the bag. It is a zero sum game; somebody has to lose in order for you to win.
Read more on this analysis here: cryptodaily.co.uk
XVGUSD trade ideas
Moon boys expected a Lambo but instead XVG gave them a LimboAlright alright alright.
Time for my second TA, lets take a look at the never boring XVG chart.
I am no expert so do not use this as investment advise. I'm doing this for entertainment and this is just opinion.
Verge is a risky one but it regularly out-performs the big boys.
It could be ready to have another swing at them.
Before the news, I had a look at what happened to Stellar after their announcement with IBM and it retraced 50%. Verge looked like it was going to hold there around $0.07 USD but unfortunately couldn't hang on.
It's bounced off the 0.382 ~ $0.06 USD but it may keep going to the bottom of the channel ~ $0.054 USD. Worst case scenario would be around $0.045 USD ans I'll be shocked if it goes that low.
Just look at how far it has fallen.
Look at that low RSI level - extremely oversold.
Same with the MACD, it looks like it wants to cross over soon.
Although the EMA is looking bad on every time frame - but as a lagging indicator it's hard to keep up with such a drastic price drop.
One thing that makes me quite bullish is trying to do an Elliot Wave count on this.
I'm no expert (at any of this) but I can't see a valid count anywhere as wave 4 always retraces below wave 1, which is a no no....so are we currently completing wave 2?
You know what they say, wave 3 is often the longest, never the shortest ;)
Mind Geek may not be the prestigious company we hoped for but it's still a really good partnership.
Verge XVG Trade Setup Approaching A New Buy Zone
This is an update of the Chart and commentary on Verge I posted yesterday. For more detail of the projections I made yesterday, please refer to yesterdays chart linked below.
Verge XVG Trade Setup
Verge is approaching the buy zone I outlined. Selling volume is letting up a bit. The RSI is approaching the oversold region. Stoch RSI indicates in the oversold region. Remember that these indicators can ride in the oversold region for some time so be patient. It is likely it will take 3 or 4 four hour candles to get into the buy zone where you could start to buy in with increments. I would aim to be all on my planned investment for Verge XVG for this swing trade by the time we reach the ideal buy point.
The ideal buy point in this chart is $0.0487 this is the intersection of a trend line and support lines.
We may or may not reach it, if volume turns positive and the trend starts upward it may be our signal that the downward move has ended for now.
Please, Don't forget to Like Agree, Comment and Follow Me, It's additional encouragement for me to share my work.
All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.
Wishing you success,
Isaac
XVGUSD Bull on queue !!!!! Look as much as bottom to buy , DON"T JUMP EARLY. Look your indicators and strategies to buy at lower prices
XVG Broken Support on Triangle FormationBITTREX:XVGUSD was forming a triangle formation and seems to have already broken the support line on it. It had a bearish formation before and will theoretically follow.
XVG DIRECTIONAL PIVOTpivoting could lead to breakout reversal or reversal of reversal ;)
looking for direction
XVG HIGHER LOWShave the sellers been flushed out yet?
still set up for higher low.
uptrend looking solid.
Verge & Pornhub News = Completion of Bearish ButterflyWas it the pattern that caused the price drop yesterday or the news?? this is the question that is super interesting to me. If you plotted the fib on this chart and price made a B at or very near to 78.6% level and then we got a C between .382 & .236 we can then expect price to complete the butterfly and get up to 1.272 or 1.618 extension.
In this case price shot up to 1.272 and then crashed... but was it as I believe the pattern leading price, or was it as others believe news affecting price or is it a combination of the two.
Interested to hear what you guys think.
Verge XVG - Short Term Pullback on NewsXVG has pulled back from touching the upper trend line as shown by the smaller yellow ellipse on the chart on the news that a business deal has been reached to use Verge as a payment system for the Porn Hub company. Porn Hub which is owned by Luxembourg based MindGeek the 32nd biggest website on the web according to traffic measurements.
This is a case of buy the rumor and sell the news.
Why Was This Deal So Attractive To Verge And MindGeek?
Verge team is only looking at a very large market with this company taking up a large part of the total Internet traffic with massive sales. As a business opportunity, this could be huge for Verge. The customers of these sites are looking for as much cover as possible desiring to hide their payments on credit card statements from friends and family members. Verge also encrypts all of the traffic via the TOR network making intercepts of payment traffic untraceable.
The Verge Trading Chart
Watch the dotted trend line for a possible recovery in the price. If the price holds here it's an opportunity to add to the position.
Should the price move further downwards, I have highlighted a "Buy Zone" for adding to long term holdings.
I have no intention to sell Verge, I believe it's a long term hold.
Disclaimer: Those with objections to the Porn industry might want to weigh their investment in Verge. But it's only fair to point out that the US Dollar, Visa, and Mastercharge are far larger in this regard.
Please, Don't forget to Like Agree, Comment and Follow Me, It's additional encouragement for me to share my work.
All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.
Wishing you success,
Isaac
UP OR DOWN What do you think ? Verge XVGAnnouncement was made. After the %40 dump should we expect some run up ?
XVG Verge the first to start completion of the WXY Correction?With Verge dropping a massive 30% just today, massive sell volume on this crypto. Could be the completion of a running flat and the X part of a complex correction and a continuation to the down side. We can still have a potential break above the last high, doesnt change the stucture however we can also move down from here. My initial entry target was way down below the slast swing low and found it highly suspect XVG moved so much in the short time however here we go.
Wave movement anticiaption has been drawn on chart, we should see the zigzags mocing down. ABCD move down brings us to the completion of the W correction which also ties up together to the various trendlines, 100-1.27 Fib ext of the initial down wave and a prefect entry for the real bull run.
Verge XVG Mooning Soon! Besides the partnerships
The cup & handle is almost complete
= one of the most bullish signs (indiciators)
Has plenty of VOL
Looking for @ least 5x ROI
Plus we saw HUGE ROI last year at around $.25
XVG LOOKING FOR DIRECTIONmay have to take the market up to find buyers and sellers.
volume depleted.
Can Verge (XVG) Really Compete With Monero And Cardano?Verge (XVG) has been up more than 27% in the past 24 hours and is currently ranked the 18th largest coin by market cap. Monero (XMR) ranks 11th and Cardano (ADA) ranks 7th in terms of market cap. There are two primary reasons for comparison of these coins with Verge (XVG) apart from investor gossip on multiple online forums wooing for Verge (XVG) to outrank these coins. I have to admit that Verge really has a very strong community but before we discuss that, I’d like to go back to the comparison. Monero (XMR) is a privacy coin same as Verge (XVG) claims to be. The difference is that Monero is a lot more sophisticated and advanced privacy coin with far more use cases than Verge. It also has a more professional team and comparatively more industry recognition and respect. When investors talk about Verge vs Monero that means they are rooting for Verge to outrank Monero in terms of tech as a better privacy coin. One could debate the possibility of that actually happening but at least this is what some Verge investors believe.
Read more on this analysis here: cryptodaily.co.uk
XVG MOVING AVERAGESshould be an interesting week for Verge.
shakeout, breakout or takeout?
so far well above MAs and recent support.
XVG Tech Analysis
Even in hope of positive news from XVG price respects technicals if analyzed correctly.
