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Verge

Is Verge Dead in the Water or will it Moon?!?!Hello traders! Lets take a look at one of the more controversial coins in the cryptocurrency space, Verge! Verge has seen huge price spikes since in the last weeks due to the likes of the fundraiser as well as big partnership announcements. The question on everyone's mind of course, "Will it continue to rise and go to the moon?" I think its very likely that it will and I'll show you why with the 6H chart. Shown on the chart is the upward channel that XVG has respected since the start of its run up mid March. On each wave up XVG has touched the top of the channel and retraces appropriately back to the bottom of the channel before bouncing back up to the top. Looking at the chart we can see that XVG is currently at the bottom of the channel which might be a signal that the next bounce upwards is approaching. Considering that we still have a several days left until the partnership announcement there is a strong possibility of another upward movement before investors and traders "sell the news". Let's not stop their and look for more data that can validate our hypothesis or contradict it. Using the Bollinger Bands (BB) we can see that the price has respected the middle band line and remained in the upper half of BB's. Additionally we see that the middle line has been hugging the bottom of the upward channel. If you know how BB's are calculated you know price will remain in the upper half of the bands about 47.7% of the time. So roughly speaking we have a nearly 50% chance that the price will continue in the upward half of the Bands which is an extremely positive sign. Now the possibility that the channel breaks is still their, especially while we are currently on a retracement from the recent high of 1354 satoshis. Let's examine one last bit of datum that could solidify our hypothesis. Examining the chart we can see the formation of a descending triangle or wedge depending on how far you draw your lines. In terms of technical patterns the descending triangle/wedge is a continuation pattern of the trend (upward for us). Looking at the chart, price has dipped below the blue line of support and poked above the red line of resistance but has returned and closed within our pattern. This is a very bullish signal and another strong indicator that Verge will continue upwards! Alright, let's combine our data thus far and see what we've come up with. XVG has been in an ascending channel for a while now making higher highs and higher lows on each wave but still remaining within the channel. In addition to the upward channel XVG has respected the upper half of the Bollinger Bands . Statistically we have a nearly 50% chance of price remaining in the upper half of the BB's which is pretty good odds. We also saw that coincidentally the middle band has lined up with bottom line of the ascending channel which is a good sign of a bounce incoming. Lastly, the formation of a continuatoin chart pattern (descending triangle/wedge) validates our hypothesis. Personally I think we will break the descending triangle on the next 6 hour candle and bounce off middle band and bottom of the channel. tl;dr 2.20% : MOOOONNNN!! Disclaimer: Per usual lets throw in the BTC -0.98% talk. The market overall will react to the King. The strong bounce from BTC -0.98% up to 8k was a much needed sign of life for the market. However the bears are still awake and not hibernating and we're not out of the woods yet, so be careful! Let's make that money! Leave a comment if you agree or disagree. I welcome all criticism.
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by UnknownUnicorn1696851
XVG - Last few days before the major announcement!As the title states, we have a couple of days left before the big announcement. The market seems to be trending towards the bullish side with the start of ALT rising, followed by bitcoin with the last few hours. This will definitely push XVG's prices up alot more prior to the major announcement. XVG has been consolidating within the price range of 1100-1300 sats. The sell pressure is decreasing with each passing hour, and is even stablized against BTC's rise (although it did dip during BTC's rise but it was able to almost completely recover back to 1,200 sats range. Moving on the graph, XVG has retraced roughly 50% just like it did in most of its previous runup. This is why I do believe that it is nearing its completion of the sell off phase from this runup. We might see it move sideway for a day or so before it takes off. RSI has retraced from overbought and is currently hoovering at mid 50%. The rejection at the low 1000 sats indicates that there are still more buyers vs sellers. and that verge is not done with its runup just yet. ALthough the time frame that I am looking at is showing bearish divergence on the MACD, the lower time frames (15mins,30mins,1hr, etc) are all starting to show bullish divergence. MACD is a delayed indicator so the bullish divergence would take some time before moving onward to the higher time frames. Anyways, my first TP is roughly within the 1700sats range. I do believe that we will blow right through this given how bullish Verge has been from the announcement hype + the early bull market reversal that most ALT + BTC are showing. My second TP is roughly 2300 sats. This is not investment advice, this is just my take on Verge's chart. Happy investing all!
by mistahtom
4
XVG IDEA (Give feedback)Hey, this is my view on XVG. Could this be a possible scenario? I see a possible cup and handle or head and shoulders pattern forming right now. If either pattern completes we might see a break of the resitance line at 0.09. In short term we need to go down to create the handle or right shoulder. RSI is high and there is room for a drop?? I produce this idea to get feedback. the past 4 months i have been educating myself to read charts and make technical analysis. Please give feedback if this an unrealistic analysis
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by MathijsR99
1
XVG on a rampage - where are the stop losses?Verge has been on a rampage the last couple of days, exploding in price with strong momentum. The strongest catalyst being the knowledge of a pending announcement of a very big partnership (announcement planned for April 17th). It is supposed to be an exclusive partnership with a lot of impact. Hence, we have ourselves an anticipatory price movement. First of all, prepare yourself for the typical buy the rumour, sell the news phenomenon. Make sure you have your stop losses set. The 17th of April might be a logic timing for the handle to start forming. We are currently closing in on the 38,2% retracement level (low to high) or 61,8% if we look at the high to low Fibonacci retracement lines. You can see these levels acting as resistance for the moment. Can we still break through those? I think that is still quite plausible, but the 17th of April will be an exciting day and you'll better put some stop losses during the waves up (put them close to the Fibonaccis.) So for some logical, for some less experienced maybe not, but do put those stop losses or at least be aware. The other two fun learnings are how this price movement might be mirrored soon by ICX and Cardano. ICX will be announcing i) an Initial Coin Offering platform & ii) IISS launch (by April 30th), so this graph might be moving like Verge's but with a two weeks delay? "ICX to follow Verge's (XVG) momentum? (500% + potential)" Similarly, Cardano has some announcements coming up by end of April, beginning of May: i) launch testnet; ii) roadmap update. "Cardano to follow suit on the Verge (XVG) breakout? - 500% + potential" Conclusion: XVG momentum is still positive (see upward MACD, no sign yet of any cross), price seems to continue going. We have a by the rumour sell the news event the 17th of April coming closer - this might trigger a profit-taking sell-of. So stop losses should be made accordingly. Moreover, ICX and Cardano seem to be moving with approximately two weeks in delay in terms of graph movement. Seems like something at least interesting enough to have a look at, don't you think?
by A_Cryptastic_Mind
XVG Consolidating and Forming a Up TrendThe last drop to 1143 was a strong signal that this correction may be coming to a close. We established a low at 1129 on Binance following about twelve hours later by a higher low at 1143. We now seem to be forming a new wedge that points to another breakout. It's still early and we may bounce at least once more off of the bottom trend line. Once we breakout we're going to see resistance at 1232 1320, and major resistance around 1352. Remember, these are projections based on current chart patterns. ONE investor with a large enough buy or sell can change the pattern.
XLong
by jawhite
6
XVG - Verge Technical AnalysisDear Viewers, What is Verge, also known as XVG ? Verge is a decentralized cryptocurrency designed as an enhancement for the standing Bitcoin blockchain. It evolved with the aim of maintaining personal privacy, flaunting the capability of rendering fast and efficient transaction for individuals and cooperate bodies. The company discloses that it aims at easing transaction for people around the world by “bringing blockchain transactions into everyday life”. Verge is said to grants individuals and businesses the flexibility of receiving and sending liquidities within a twinkle of an eye. Verge, makes it possible for its users to create instant, anonymous transactions using advanced technology of blockchain built on services like Tor and I2P, which conceals data like IP-addresses and geolocation. Moreover, it functions using ‘Simple Payment Verification’ (SPV), which grants rapid confirmation. Have You Heard of Wraith Protocol? Wraith Protocol, launched late 2017, is technology that obscures IP address and blockchain transaction using Tor and stealth address. It grants users the ability to choose amid running a public and private ledgers transaction on the Blockchain, and such benefit is said to be the first of its kind. In other cryptocurrency, users are not allowed to choose between public or private transaction. The only thing that has ever existed in similitude to this is making transactions private with no further option. How wraith protocol works ? Wraith, when switched ON for transaction, it hides data and makes it undetectable through blockchain explorer. Contrary, in situations where a user desire transparency and does not want to go private, the OFF switch on Wraith Protocol would initiate this, and all transaction data would be made visible on the public ledger. Nevertheless, Verge still delivers the aptitude of total veiling of IP addresses and geolocation even without Wraith protocol, all due to the adoption of the most advanced version of TOR integrated into the Core Wallet. Conglomerating both to function together make Verge the only uniquely genuine cryptocurrency that is untraceable. Here is my Technical Analysis. Now that XVG's correction is done, we are finally finding our selves in a bullish trend line regarding XVG/BTC. X VG's price is up because it's rocking a large partnership & creating a unique privacy cryptocurrency . But on the downside, XVG also got hacked (it was NOT a 51% attack. It was a hack though, a mining exploit. But it was fixed, handled & forked quickly). In my TA I used Elliot Waves theory with 5 uptrend waves, followed by a ABC correction, after this correction we should see another rise in price that will bring us head to head to important resistance levels XVG needs to break in order to see a new A.T.H. Keep an eye on my charts ! Raw_Blitz Out.
XLong
by TjerkPieksma
1
Verge Upside potentialVerge (XVG/BTC) has made a strong rally in the last few weeks and is now at the resistance level around 0.000013. If price goes down from the resistance level we can expect a reaction from the support level around 0.000010. If price goes down the the aforementioned support it will also break the ascending trendline which could turn out to be a false break since the momentum is bullish. At the moment it's best to wait until price reaches the support level since it can provide very good buying opportunities and it can easily reach at least the resistance level around 0.000013. There is also bearish RSI divergence at the moment, which could mean that the bears are taking control, although it's too early to tell. Good Luck, CryptoTrendline
by CryptoTrendline
1
XVG Correction - Potential ScenarioFor those of you that have been following my posts on Reddit please realize this is a totally different type of TA and is not as predictable as the short term trend analysis I've been posting. I picked several breakouts in a row this week and I don't want anyone thinking that every pick I make is correct. That's certainly not the case. Verge has obviously entered into a correction. The question is how much does it correct. First of all, this correction could end at any time and resume an upward trend. But, if it plays out in typical correction fashion the next level of support will be at 1141. If it breaks through that level the next major support is 1044. I don't think it drops below 1044. If it does then we could see a major correction. This correction could run through Thursday and begin another move up late Thursday into Friday. If I see anything change I'll post an update.
Long
by jawhite
4
POSSIBLE WAVE 5 FOR XVGUsing Fibonacci and elliott wave theory here it looks like verge is in wave 5 territory. Targets are based off of a 1:1 extension of wave 3 and also 1.618 extension. This coupled with all of the positive moves the company itself has been showing makes me extremely bullish on this coin right now. This is just my basic analysis of this and some may see it differently but this looks to be a good trading setup for right now. Have a good night everyone and thank you for viewing and thanks in advance for any thumbs up or comments. As always please make sure you do your own research as im not a financial advisor, just here trying to share my thoughts and work together to be successful traders
Long
by bubbap22