Resistance and support levels for Verge Coin (XVG) :
Resistance levels: $0.015, $0.016, $0.017
Support levels: $0.014, $0.013, $0.012
Verge Coin (XVG) Price Analysis for Medium-term : Bullish
XVG moved suddenly to the higher resistance levels in the early hours of the market yesterday with the formation of massive strong bullish candles after which the bears were able to push the coin below the support levels of $0.015. The bulls took over the market with the formation of strong bullish candles. Later, the bears recovered their selling power as the market reached the support levels of $0.015.
The coin may move further to the south as it is below the 50-day EMA and the 10-day EMA is below the price. The RSI 14 is below 30 levels with its signal lines pointing to the south which connotes sell signal.
Verge Coin (XVG) Price Analysis for Short-term : Bullish
XVG’s uptrend movement yesterday might be as a result of the fundamental effect on the market. The bears later returned to the market’s lower level which leads to a formation of more bearish candles.
Today, the downtrend may continue in case more sellers move into the market and XVG may move down to the south. The coin is below 10-day EMA and 50-day EMA is below the coin which suggested a selling signal. The RSI 14 is above 40 levels and the signal line points to the south, which indicates a sell signal.