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Price Analysis

📊 Verge Coin (XVG) Price Analysis | XVG News | October 17, 2018

Verge-Coin

Resistance and support levels for XVG :

Resistance levels: $0.015, $0.016, $0.017
Support levels: $0.014, $0.013, $0.012

XVG Price Analysis for Medium-term : Ranging

XVG Medium-term Analysis | October 17, 2018

After the sudden movement of the XVG to the higher resistance level during the early hours of the market two days ago, the formation of massive strong bullish candles lead to the bears pushing 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 started consolidating at the support level of $0.014.

The coin may move further to the south as it is below the 4-day EMA and the 50-day EMA is above the price. The RSI 14 is above 40 levels with its signal lines point to the south which connotes a sell signal.

XVG Price Analysis for Short-term : Ranging

XVG Short-term Analysis | October 17, 2018

The bulls did not have enough pressure to push the coin beyond the resistance level of $0.015 and the bears also did not have enough pressure to push the XVG below the level of $0.014 yesterday. The price has been ranging between $0.015 and $0.014. The last two days uptrend movement might be a result of the fundamental effect on the market. The bears later returned the market back to the lower level by the forming more bearish candles.

The downtrend may continue today in case more sellers move into the market and XVG may move down to the south. The coin is on both 4-day EMA and 50-day EMA. The two EMAs are interlocked to each other, which suggest consolidation. The RSI 14 is above 40 levels and the signal line points to the north, which indicates a buy signal.

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