- The price of the Verge fell from the $0.011500 overhead resistance level to the support of $0.008500 price level.
- On the upside, if the bulls break above the EMA and more buyers at the upper price levels, the price Verge would rise.
XVG/USD Medium-term Trend: Bearish
- Resistance Levels: $0.0092, $0.0094, $0.0096
- Support levels: $0.0088, $0.0086, $0.0084
Since on May 16, the price of the Verge is in a sideways trend. The cryptocurrency had been trading below the $0.011500 overhead resistance level. The 12-day EMA and the 26-day EMA are sloping horizontally as the market continues its range bound move. The bulls have tested the overhead resistance on more than five occasions without breaking it.
Each time the bulls tested the overhead resistance, the price would fall to the support of either the 12-day EMA or the 26-day EMA. On May 30, the bulls were resisted at the $0.01100 price level, and the market fell to a low at $0.009500.
At the low of $0.009500, the bulls pulled back price above the EMAs. The crypto’s price was again resisted at the $0.01050 price level and price fell to the support of the $0.008500 price level. The price of the Verge fell from the $0.011500 overhead resistance level to the support of $0.008500 price level. On the upside, if the bulls break above the EMAs and more buyers at the upper price level, the price Verge would rise.
XVG/USD Short-term Trend: Ranging
On the 1-hour chart, the XVG price is in a sideways trend. The price of the Verge is fluctuating between the levels of $0.008500 and $0.009500. The bears have tested the lower price level on more than three occasions but the bulls have prevented the bears from further depreciation of the crypto. 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.
Live Verge (XVG) Price:
1 XVG/USD =$0.0096 change ~ 2.91%
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