Verge Chart Analysis: XVG/USD hits a new 2020-high at $0.0062
- XVG/USD has achieved a new 2020-high after hitting $0.0062.
- Verge is inside a strong daily uptrend and could continue to climb further.
Verge has been trading inside a daily uptrend for the last two months recovering from the massive crash on March 12. Verge hit a low of $0.0015 on March 13 and it’s currently trading at $0.0062 at the time of writing, a 312% price increase over a span of three months.
XVG/USD daily chart
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Bulls are obviously extremely happy with the performance of XVG in the past few months. Today on June 12, XVG is having another massive bull break after obliterating the high of 2020 at $0.0051. The daily MACD is, of course, bullish and XVG is trading comfortably above the 12-EMA at $0.0051.
XVG/USD 4-hour chart
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XVG has been in an uptrend on the 4-hour chart almost since March. Bears have not managed to change the trend, but they were close a few times. Bulls are not facing many resistance levels until $0.0079 which means the bullish momentum can continue easily even though RSI levels are overextended on most time frames including the 4-hour chart.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
