Lorenzo Stroe
Independent Analyst
- XVG/USD is up 6% in the last 24 hours after establishing a clear higher low on the daily chart.
- Verge is currently in a daily uptrend and only facing resistance at $0.0079.
XVG/USD has managed to remain inside a daily uptrend and has set a clear higher low at $0.0068. Bulls are only facing the high at $0.0079 as the next resistance level before $0.01. Verge is currently trading at $0.0073 after a brief pullback.
XVG/USD daily chart
Buyers have defended the daily 26-EMA several times in a row and the daily MACD is now on the verge, no pun intended, of a bull cross. The RSI is not overextended and will not have any impact on Verge until $0.01. The daily 12-EMA at $0.007 can be used as a support level if the pullback extends further down.
XVG/USD 4-hour chart
Clearly, the 4-hour chart is under healthy consolidation as XVG/USD has just defended the 12-EMA located at $0.0072. The MACD has crossed bullishly and buyers are ready for another leg up above $0.0076.
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