Resistance and support levels for Verge (XVG) :
Resistance levels: $0.015, $0.016, $0.017
Support levels: $0.014, $0.013, $0.012
XVG Price Analysis for Medium-term: Ranging
On the 4-Hour chart, the coin has been ranging between the resistance level of $0.015 and the support level of $0.014 since October 15th. The bear does not have enough momentum to push the coin below the support level of $0.014. Likewise, the bulls did not have enough pressure to break up the resistance level of $0.015.
The 4-day EMA and the 50-day EMA are interlocked with one another and the coin is on the two EMAs indicating consolidation mode. However, the RSI 14 is above 50 levels with its signal lines pointing to the north which connotes a buy signal.
XVG Price Analysis for Short-term: Ranging
The bulls fairly dominated the market yesterday, but lost pressure in short time and could not push XVG’s price to the resistance level of $0.015, neither can the bears push the price below the support level of $0.014.
When more sellers move into the market the downtrend may continue and XVG’s price may move down to the south. Likewise, increasing the bull’s momentum will definitely increase the price. The coin is on both the 4-day EMA and the 50-day EMA, which connotes an ongoing consolidation. However, the RSI 14 is above 40 levels and the signal line points to the north which indicates a buy signal.