Verge Technical Analysis: XVG/USD continues outperforming the market up by 22%
- XVG/USD is up 22% today on June 15.
- The rest of the crypto market is experiencing a significant crash while Verge continues going up.
- Verge remains in a strong daily uptrend.
Verge is one of the few cryptocurrencies going up today, on June 15. Most of the altcoins and Bitcoin are dropping. XVG was heavily rejected from $0.0097 but has managed to recover and it’s trading at $0.0085 at the time of writing. Bulls are in full force again looking at $0.01 for the first time since June 2019.
XVG/USD daily chart
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It’s clear that the bulls have a lot of momentum and practically all indicators are extremely bullish. The MACD continues rising while the EMA’s are significantly below the current price. Despite the meteoric gains, XVG has been in a decently healthy daily uptrend with a good amount of consolidation periods.
Buyers are not facing many resistance levels to the upside. The last daily high is basically the only resistance point before $0.01. We could still see another pullback before $0.01 but as long as the bulls can hold the daily 12-EMA and the 26-EMA, the uptrend will remain intact.
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.
