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: Bearish
XVG continues in its downward trend movement. XVG was ranging yesterday between $0.015 resistance level and $0.014 support level. Today the bears have taken control over the market with enough momentum that broke the yesterday support level of $0.014 downside. The coin has reached a week low support level of $0.013.
XVG’s price is trading below the 21-day EMA and the 50-day EMA indicating downtrend. The RSI 14 is above 30 levels with its signal lines pointing to the south which connotes sell signaling.
In case the demand level of $0.013 holds and the price bounces back to the north, traders may set up a buy limit order, initiating a long trade. Should bears break the demand level of $0.013 the cryptocurrency targets will then be $0.012.
XVG Price Analysis for Short-term: Bearish
The cryptocurrency was still choppy in its 1-Hour chart yesterday. The bears gained more pressure and pushed XVG’s price down with the formation of strong bearish candles that broke the former support level of $0.014 downside. It has reached the lower support level of $0.013.
The price may reverse at this level to carry out retracement before a further downward movement. It may also break the support level of $0.013 down side and expose the demand level of $0.012.
