Verge (XVG) in Need of a Strong Recovery to Counter the Bearish Attack

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

  • The Price of Verge currency XVG is trading 0.88% up against the US Dollars in the last 24 hours.
  • The short-term oscillators reflect some easing but remain bearish

The open-source privacy centred coin, Verge “XVG” is calling for a strong recovery to tackle the day-long bearish trend. XVG experienced a steady drop in the 24-hour trade. The current trading volume of XVG in the previous 24 hour stands at $ 1,825,430 USD and with a current market cap of $62,394,334 USD.

XVG is holding its price level above the support seen at $0.0037 USD and a Bullish candle is seen forming at $0.0039 mark. As the whole crypto market is interrelated, the Bitcoin has seen a Bullish cloud when it touched $9200 after its recent setback at $9145.XVG has gained back 0.38% against Bitcoin trade and exchange.

Verge is observed trading between $0.0037 and $0.0039 with major support levels at its least trading point at $0.0037. In the past 24 hours, XVG had a steep decrease of 5% from $0.003979 USD to $0.003751, although XVG managed to climb back 2.5% and closed yesterday’s trade at $0.003894 USD. Yesterday’s trading volume is seen at $2,067,006 USD. XVG has a market rank of #76 in the digital terms, with a return on investment of 9000% (ROI).

Verge started to trade from $0.0039 yesterday and maintained its pace between $0.0038 and $0.0039 for a while and later plummeted down to $0.0037 accounting for a total loss of 5.90%. It gained back to $0.0038 at 2.50% and is looking forward to breaking out of this Bearish trend. XVG has taken a few dives below $0.0038 as of today but a strong bullish candle is formed at $0.0039. The long term 200 days SMA line is gliding above the short term 50 days SMA line which is a strong proof of current ongoing bearish force.

 XVG is currently favoured at buying as it is predicted to launch above in the coming days. MACD of Verge is in the bullish area with its MACD line above the signal line. The resistance for XVG is observed at $0.0038 and $0.004 and support levels at $0.0036 and $0.0034.

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