• Meanwhile, the market is still  ranging between the levels of $0.00800 and $0.0100.
• On July 16, the downward trend was corrected at the $0.005390 price level.

XVG/USD Medium-term Trend: Ranging

• Resistance Levels: $0.00800, $0.00900, $0.060
• Support levels: $0.00600, $0.00500, $0.00400

Yesterday, July 23, the price of the Verge was in a range bound move below the 12-day EMA and the 26-day EMA. Meanwhile, the market is still ranging between the levels of $0.00800 and $0.0100. On July 2, the bears broke the $0.00800 lower price level and were in a downtrend.

On July 16, the downward trend was corrected at the $0.005390 price level. The XVG price  reached the oversold region of the market. Buyers are likely to emerge. Traders should lookout to buy setups in orders to initiate long trades in anticipation of a bullish trend. On the upside, if the $0.0053900 support level holds, the crypto’s price will rise and revisit the range-bound zone.

The 12-day EMA and the 26-day EMA are trending horizontally and southwardly. 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: Ranging

On the 1-hour chart, the XVG price is in a sideways trend. The 12-day EMA and the 26-day EMA are sloping in a sideways trend. The crypto’s price is fluctuating below and above the 12-day EMA and the 26-day EMA indicating that price is in a sideways trend.

Meanwhile, the price of the verge has reached the oversold region of the daily stochastic but above 40% range. This indicates that price is in a bullish momentum and a buy 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.