Technical Analysis of Verge(Nov.16th)

Verge is a privacy-focused cryptocurrency designed to offer secure and anonymous transactions. At the same time, Verge also provides high transaction throughput, low fees and quick processing times. Verge has its own digital token (XVG) and the maximum supply is capped at 16.5 billion XVG. If you choose to send a private transaction, the Verge is one of the best solutions because Verge uses anonymity-centric networks. Verge has already teamed up with the likes of Pornhub and Brazzers (as a payment option) with ambitions for additional big partners in the future. It is important to mention that Verge also announced a partnership with TokenPay to launch XVG debit cards. When we look at the 6-months chart we can see that Verge is moving in “downtrend”. As long as Verge is below $0.05 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.010 and $0.020 – If the Verge jumps above $0.020 that would be a “BUY” signal and the open way to $0.025. If the Verge jumps aboveĀ  $0.05 that could be a strong signal of the trend reversal and the open way to $0.08. On the other side, if the XVG falls below $0.010 that will be a strong signal “SELL” signal and the next target could be around $0.0005.

Advice: Verge is one of many coins developed with a core focus on privacy but according to estimates, this cryptocurrency has a bright future. In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. As for the technical picture, XVG remains in bearish phase but if the price advances above $0.020 next targets could be located around $0.025 and $0.030. On the other side, if the XVG falls below $0.010 that will be a strong signal “SELL” signal and the next target could be around $0.0050.

About Stanko 84 Articles
I am a professional forex, cryptocurrency and stock trader looking for more opportunities to penetrate the field. Writing, research, analysis, are all things I enjoy doing aside from the core trading practice as they provide a deeper perspective of market activity. I am well versed in technical analysis as well as sentiment behavior. I have 10 years experience in stock and currency markets ( analysis and trading), I am also an experienced cryptocurrency analyst. I have been writing business, finance, stock articles for over five years. My biggest strength is in technical analysis

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