• The market is still in a range-bound move between the levels of $0.00800 and $0.0100.
• The crypto’s price was below the EMAs which indicate that price is likely to fall.

XVG/USD Medium-term Trend: Ranging

• Resistance Levels: $0.00820, $0.00840, $0.00860
• Support levels: $0.00680, $0.00660, $0.00640

Yesterday, July 11, the price of the Verge was on a downward correction to a low at $0.006500. This was the previous low of May 9. At this low, the bulls made an upward move to reach the $0.01200 overhead resistance level. On July 11, the bears might have exhausted their bearish pressure as the bulls make an upward move to break above the EMAs.

Traders should look out for  buy setups in order to initiate long trades in anticipation of a bullish trend. Meanwhile, the market is still in a range-bound move between the levels of $0.00800 and $0.0100. The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Verge. The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the price of the verge has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

XVG/USD Short-term Trend: Bearish

On the 1-hour chart, the XVG price is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. The crypto’s price is fluctuating below the 12-day EMA and the 26-day EMA indicating that price may continue its fall.

The crypto’s price fell to its low at $0.0064 00. Meanwhile, the price of the verge has reached the overbought region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.