XVG entry opportunity
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XVG or Verge has - like many others - been through a several month period of consolidation. The yellow box goes all the way back to the beginning of Juli 2019. So that's almost twelve months of rangebound "action". This meant that XVG was overdue for a breakout. It wasn't as fierce as the one we saw on Zilliqa or Cardano. But fortunately this puts Verge on my "to watch"-list.
- Breakout of 45%
- Descending wedge/channel = bullish
- Found resistance at the weekly level (101 sats)
- Had a healthy retracement
- Volume is declining
I'll be looking for a further continuation down towards the weekly support level around 66 sats, which is also the top of the range Verge broke out of.
Targets:
- 77 sats (16%) highly probable
- 82 sats (23%) highly probable
- 101 sats (52%) ambitious
*No financial advice, just my own perception
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XVG or Verge has - like many others - been through a several month period of consolidation. The yellow box goes all the way back to the beginning of Juli 2019. So that's almost twelve months of rangebound "action". This meant that XVG was overdue for a breakout. It wasn't as fierce as the one we saw on Zilliqa or Cardano. But fortunately this puts Verge on my "to watch"-list.
- Breakout of 45%
- Descending wedge/channel = bullish
- Found resistance at the weekly level (101 sats)
- Had a healthy retracement
- Volume is declining
I'll be looking for a further continuation down towards the weekly support level around 66 sats, which is also the top of the range Verge broke out of.
Targets:
- 77 sats (16%) highly probable
- 82 sats (23%) highly probable
- 101 sats (52%) ambitious
*No financial advice, just my own perception
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