• On the upside, if the bulls break above the EMAs and more buyers are introduced at the upper price level, the price Verge would rise.
• The support level was holding as the bulls made an upward move to retest the overhead resistance level.

XVG/USD Medium-term Trend: Ranging

• Resistance Levels: $0.0092, $0.0094, $0.0096
• Support levels: $0.0088, $0.0086, $0.0084

Since on April 9, the price of the Verge has not traded above the $0.001100 price level. The XVG market tested the $0.001100 overhead resistance and the bulls were resisted. The market had a downward correction to a low at $0.006487 on May 9. The support level was holding as the bulls made an upward move to retest the overhead resistance level.

On May 16, the bulls tested the resistance and were resisted. The price fell to the support of the EMAs. On May 19, the bulls made a final push above the overhead resistance but the price fell below the EMAs and to the support of $0.008600 price level. On the upside, if the bulls break above the EMAs and more buyers are introduced at the upper price level, the price of 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 $0.008400 and $0.009400. The 12-day EMA and the 26-day EMA are sloping horizontally. 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.

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