XVGBTC - Consolidation for a few weeks + Breakout
Verge has been up and down over the past few weeks, thanks to bickering between their marketing team and McAfee. It's stabilized around 1000-1100 sats, and seems to be consolidating. 4HR chart indicates a convergence around 1/25. Looking for a bounce off of the 1050 long term support line today. Then we have to break short term resistance.
Should see a slow rise to 1350-1450 around the 25th, peppered with a couple spikes. We could see it get back up to the 1700-1800 level. Resistance lines at 1400, 1600, and 1850 back to Christmas Eve.
I'd bet on a breakout to 1800 by the 25th followed by a selloff to the 1400 level before stabilizing again around 1600. I'll update as we get closer.
Should see a slow rise to 1350-1450 around the 25th, peppered with a couple spikes. We could see it get back up to the 1700-1800 level. Resistance lines at 1400, 1600, and 1850 back to Christmas Eve.
I'd bet on a breakout to 1800 by the 25th followed by a selloff to the 1400 level before stabilizing again around 1600. I'll update as we get closer.
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