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XVG Price Prediction: XVG Rebound From All-Time Low

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  • The price of VERGE is trading at $0.005313.
  •  The 24-hour volume is $131,824,210 and it is rising by 2122.9% in a single day.
  • VERGE (XVG)’s market cap is $87,868,018, which increased by 153.42% in 24 hours.

An obvious and large trend reversal can be seen after carefully analyzing VERGE (XVG)’s chart on the daily time frame. The price of XVG changed significantly in May 2021, when it hit an all-time high of $0.08485000. However, it quickly saw a sudden 96% drop, falling to a new all-time low of $0.00138445.

Surprisingly, the price of XVG gained support at this crucial point, launching a reversal process. The price is currently consolidating within a narrow range of $0.00449760 and $0.0138445, establishing a parallel channel pattern. Additionally, XVG demonstrated an amazing burst of bullish momentum in just two days, causing the price to climb by an incredible 170%. As shown in the chart, such a significant move resulted in a surprising breakout from the established channel pattern, which was backed further by an obvious increase in trading activity.

These recent events clearly suggest that XVG has effectively recovered from its prior bottom, going on a new upward path. The price’s steady rise suggests a significant shift in mood, sustaining hopeful hopes for an upward trend in the near future. As XVG continues to rise, the next big resistance level to be tested is $0.00857415.

VERGE (XVG) Price Prediction

Technical Analysis (1W Timeframe)

XVG Price Prediction: XVG Rebound From All-Time Low
Source:  XVG/USD.1D.BITFINEX by TradingView

According to the chart, the XVG price is rising above the 20, 50, and 100-day EMAs, indicating a strong indication for the XVG price. 

The MACD line is now in the positive zone, and the MACD line above the signal indicates that the price is developing a strong structure. There is also a green histogram formation, indicating that the overall momentum of the XVG price forecast is in the positive direction.

The volume of XVG is expanding, according to the analysis. It shows the current market’s presence of buyers, indicating that the general momentum of XVG price projection looks to be negative and that a decline is imminent.

Conclusion

The price of XVG has a positive structure, according to the entire assessment completed in the weekly period. When key indicators like the Exponential Moving Average (EMA), and Moving Average Convergence Divergence (MACD) are considered, a clear and compelling conclusion can be drawn: the XVGprice prediction is strongly upward, indicating a high probability of a positive direction and an impending rise.

Technical Levels

  • The Nearest Support Level is – $0.00449760.
  • The Nearest Resistance Levels are -$00857415.
Disclaimer

The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.

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