Summary:
XVG is building toward a nice trade setup. A Bulkowski Ascending Wedge has formed and 2 of the 3 required touchpoints on the lower trend line have been completed. The trade becomes active when the price touches the lower trend line for the 3rd time. Positive volume has been good and Verge is already up about 12% today in the process of forming this signal.
XVG is currently at about 20% of it's ATH price. Even if BTC recovers a little, you can look for a quick 200 or 300% pop upwards in price with Verge. XVG has a solid product, a great team and a very active community to support it. If XVG takes off, look to take some profits at the Fibonacci levels set by past price action. That would be at the 0.0743 cents and 0.1174 Cents levels.
Remember for XVG to really pop, BTC will need to make some upward progress that at least looks like the beginnings of a recovery from it's present bear price slump. the beginnings of a recovery from it's present bear price slump.
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All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.
Wishing you success,
Isaac
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I made a nice little pop on Verge today. 4.5 cents to 7 cents in the last 17 hours. I'm still in and watching closely.
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I did not wait for the 3rd bottom trend line touch but made a call based on the BTC run. As I mentioned XVG is very dependent on BTC for it's price action and has often as today shown the ability to gain faster than BTC when the Bitcon price surges up.
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Verge is doing nicely, We did encounter some resistance at 9 cents as expected. There was even a bit a of hubbub over a hack attempt that did not damage the price action. The team got right in there and issued a fix and all is well. Still looking at $1.03 as a reasonable near term price target.