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Verge (XVG) Price Analysis: Upside Trend Gaining Momentum

Analytics

todaysgazette.com 18 December 2018 14:30, UTC
  
Reading time: ~2 m

Seems like December is actually heeding to the call of crypto lovers. The value of coins have begun adding weight in the market. Verge (XVG) lately broke away from the descending market trend with huge hint for a recovery on the high side.

The price of the altcoin has started fattening up on the upside move in an appealing way that might soon put a huge smile on the face of its lovers. This seems to be driving the value of Verge (XVG) high, and it could be aiming for a next interest area around $0.007 in no time.

Since the 100 SMA is still beneath the long-term 200 SMA, it is clear that XVG/USD is on a path resistant against the downslide. While the price is also some distance away from the 100 SMA, it is another clear indication that the bulls are around the corner.

A bullish recovery will for sure be experienced if the gap between the moving averages is maintains in such a way that it would narrow selling pressure. After the 200 SMA dynamic ceiling, the next resistant mark might be $0.0067.

Even though Relative strength index is signaling overbought conditions which implies buyers are beginning to get saturated, the trend line is moving with great potential to take full charge on the upside trend.

After plummeting from for a previous support level of .00631 to .00615, the altcoin seems to have returned on the rising wedge with great bull charge that signal break through.

If the present tempo is maintained, the price of XVG/USD might in the next few day spike to $0.009 with better expectations.


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