There are two possibilities as demonstrated in the chart.
The volume is dropping and it can't sustain the high price anymore. Its going to drop to support and test it, if it fails more correction will occur.
Giao dịch đang hoạt động
⋅
Support is reached, either more correction or a rebound. But will be a while for a rebound not today or tomorrow.
Bình luận
⋅
Going to the lower support, specially with BTC going up.
Bình luận
⋅
So it dropped to 800 which is the 2nd support then bounced back up to the first support right away. Now the first support is acting as a resistance because every time verge attempts to break out of it, it falls back down again.
Đóng lệnh: đạt mục tiêu
⋅
Going to close the trade as its. Both supports regions indicated were touched.
Bình luận
⋅
Going to drop a lot after McAfee's last tweet. (he just posted it)
Bình luận
⋅
Current price is 1060 sat. Huge drop soon. If you are in Verge and you are following me, SELL.
Bình luận
⋅
He said that he expected verge to be 0.015$, so I'm expecting since he made the pump he will cause the price to reach 0.015$. Which kind off isn't a big drop since the current price is 0.016$. Ignore what I wrote, I over reacted.
Do you expect it to rebound from here? Good potential for some profit?
DCFreak
⋅
@hackthebull, 715 sat is a well tested support line. However, given the condition of BTC, its hard to tell.
If BTC doesn't find support at 14k it will drop to 13k taking all alts with it down.
DCFreak
⋅
Verge is just hovering in the 1st support area. If you guys would like I can make a follow up post for the possibilities at the current stage. However, for now I won't be looking at this post for today.
Hope that my post saved you from a 27% (current price) to 50% (lowest point reached, which is support #2) loss.
bigblackstar
⋅
Nice one, cheers Freak - its looking spot on IMHO (someone who knows very little).
DCFreak
⋅
@bigblackstar, Thank you. Even though either direction is possible (up or down). I think most likely it will retrace down to the support.
yass308
⋅
At what time do you think the drop will be the biggest
DCFreak
⋅
@yass308, I think if BTC drops further this will affect the price of verge a lot, so watch out for BTC.
The volume is dropping a lot as you can see in the chart above, so I dont see the price going up for 1 more round at the moment, could be wrong thou.
The issue is everybody knows that the price of verge increased a lot so they get worried about the risk of investing in it as it might drop down to its original price before the rally, hence less interest over time.
DCFreak
⋅
The selling volume is high, expecting a drop soon.