Verge (XVG) Incredible Bounce & Take Off (Long Term Targets)

Many people are familiar with Verge (XVG), which is an altcoin that had incredible volume and growth in last years bull run. It is also part of my Top Altcoins for Long Term Hold which I shared weeks ago. Verge (XVG) is on this list!

Now, Verge is looking for some good action again and has increased in value by almost 50% just today. Which is incredibly and huge.

In the chart above, which is a daily chart (where each candle consist of 24 hours), you can find long term targets which you can use if you are trading verge, as well as some indicators that can tell us about Verges future.

Let's take a quick look at this chart:

- The bottom was reached on March 18th @ 0.00000322, a price that hasn't been seen since December 17th... 3 short months of retrace, consolidation, accumulation and finally take off. Now, is this the real deal? Take a look at today's candle for your answer (huge big green candle)...

- The first thing to look at for me is the RSI. After the price hovered near the "oversold" line for a while, XVG bounced and started a new run. Now it is trending up strong and even reaching the overbought line, which points to a retrace coming soon.

- There is positive divergence on the MACD, which is a very strong and bullish signal. After crossing over, it is trending up strong and on the bullish side. The DMI is also bullish.

- The overall chart structure looks pretty good. The Moving Average indicator is also showing some strong positive signals, looks like Verge (XVG) really wants to keep on going strong.

- The weekly chart looks pretty solid, there is still plenty of room left for growth.

Note: This is a general analysis, just taking a quick look at the Verge (XVG) chart and sharing some "targets" (blue lines on the chart) for those that own this coin and would like some pointers on when to sell. These targets are for the long term view of this coin.

These signals and indicators can change anytime. This is a daily chart, so everyday we will receive new signals.

This is not a trade advice. I will be sharing many, many, many trades soon. Enough trades to meet your liking.

Thanks for reading this quick review.
& Thanks for your infinite support!

Namaste.

Bình luận:

If Verge (XVG) is to continue its trend up, a good re-entry / re-buy range would be around 0.00000713 - 0.00000955 price levels.

Giao dịch đang hoạt động:

XVG price bounced exactly at 0.00000713. You can expect some more consolidation before this coin continues to run...

Bình luận:

Target reached today!

You can find the next target by looking at the main chart.

Bình luận:

Make sure to always secure some profits when a target is reached.

Bình luận:

Next Target:

Bình luận:

Our next target is 0.00001626.

There is no guarantee that this or any other target will be reached.

Always make sure to secure profits.

There is also the possibility of Verge not being able to breakout and go back down. Or a retest of the 950 levels before we can test the next target.

For now, we wait patiently for a signal, we are consolidating now.

Here is the 4 hours chart:

Bình luận:

If we break below the 955 level and close below it, we will then move to test the 713 level.

On the other side, if we consolidate sideways and then move up, we go straight to test our next target at 1626 satoshis.

I love you!!!
Namaste.

Giao dịch đang hoạt động:

We are no climbing to our next target...

Feel free to put up your sell orders.

Đóng lệnh: dừng lỗ:

We hit our stop loss at the 955 level.

It looks pretty bad.

We are going down.

Bình luận:

Here is the weekly and daily charts, both are giving out many bearish signals:

Weekly:

Daily:

If Verge (XVG) is to go back up, then it has to consolidate for a while, as the charts are giving out many bearish signals, these have to dry out first.

The 4 hours chart also looks like a decline in the works...

Bình luận:

If the price range of 713 - 733 is broken down, then we can expect Verge (XVG) to go down harder and test the next support level.

If this price holds, we can wait for new signals and see if Verge will start to move back up.

Looking at the short time frame charts, looks like the price is bottoming out:

How the weekly chart closes will also be very important for Verge's future...

Namaste.

Bình luận:

If the 730 satoshis level does not hold, we are going lower. Below you can find some support levels based on the daily time frame (black lines):

Giao dịch được đóng thủ công:

The price hit my next support level around the 670 satoshis level.

Since I sold all of my XVG a while back, I am no longer tracking this coin.

I did mention to sell before it went down too hard.

I will check back later and post a new trade if necessary.

For now, this trade is closed.

Thanks a lot for your support.
Thanks a lot for all the likes, shares, follow & comments.

Namaste.

Bình luận:

This one is still retracing, we need more time to see if some strong bullish signals will develop.

Giao dịch được đóng thủ công:

Since many of my followers, readers and VIP members are requesting it, I will open a new trade for Verge (XVG) in the near future (within a few days from now).

Thank you all for your continued support.

Namaste.