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
Verge has been ranging for more than seven days on the 4-Hour chart. The ranging activities started shortly after the coin experienced a sudden price increase on October 15th. XVG’s price has been trading within the bound range resistance level of $0.015 and the support level of $0.014. Both bears and bulls do not have enough force to push the coin beyond this zone. Only a radical event can forcefully bring about a significant rally in the market.
XVG’s price is on the 10-day EMA and the 50-day EMA as the 10-day EMA is crossing the 50-day EMA to the downside, which connotes a selling signal. Nevertheless, the RSI 14 is above 40 levels with its signal lines pointing to the north, which connotes a buy signal.
XVG Price Analysis for Short-term: Ranging
XVG price consolidation within the bound range resistance level of $0.015 and the support level of $0.014 has persisted for more than seven days. Both buyers and sellers have been trading within this range. 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 move towards the resistance level of $0.015 but were unable to break out.
When bulls increased their momentum, XVG’s price would definitely increase to $0.015 during which the resistance level may be broken up, exposing the resistance level of $0.016. The coin is on both 10-day EMA and the 50-day EMA, which connotes that an ongoing consolidation. However, the RSI 14 is above 40 levels and the signal line is less directional which indicates a ranging signal.