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: Bullish
XVG’s price is bullish on the 4-Hour chart. The cryptocurrency was pushed to the support level of $0.014 yesterday but could not break the support level. The bulls took over the market by the formation of a bullish engulfing candle. XVG’s price was moved to the north towards the resistance level of $0.015. In case the resistance level of $0.015 holds, sell setup can be initiated.
XVG price is above 10-day EMA and the 50-day EMA. The 10-day EMA has crossed the 50-day EMA to the upside, which connotes a buy signal. Moreover, the RSI 14 is above 60 levels with its signal lines pointing to the north, which connotes a buy signal.
XVG Price Analysis for Short-term: Bullish
XVG was in bearish movement yesterday. The bears were not able to break the lower bound range level of the ranging channel. The bulls increased their momentum and made the coin to move towards the resistance level of $0.015.
An increase in the bull’s momentum will definitely increase the price to $0.015 in which the resistance level may be broke up by the bulls and expose the resistance level of $0.016. The coin is above both 10-day EMA and the 50-day EMA, which connotes a rise in XVG’s price. However, the RSI 14 is above 60 levels and the signal line points to the south, which indicates a sell signal.