XVG Verge about to break out
Verge (XVG) is one of my favorite Alt Coins. It's a solid coin that is in real world use cases today. It has an active marketing team, a roadmap, and a solid development team.
It is one of cheapest coins in the top 30 market cap. After the correction it's currently about 80% off of it's all time high. It's relevant to the crypto-world, and XVG is focused on Privacy which is an important attribute for a decentralized asset. Verge has a respectable market share of 800 Million Dollars plus making it number 29 in total Market Cap, Trading volume in the last 24 hours is over $12.5 Million and XVG boasts of the strongest communities of supporters out there.
As to practical use, I've used Verge to transfer funds between exchanges and I can tell you that converting to Verge and transmitting my funds to another exchange is by far the fastest method (a couple of minutes) I've ever used. It was worth the commission to convert to Verge and back to me in a time sensitive situation to catch a trade in an ALT coin that was not listed on my favorite exchange.
Verge is about 25% of it's all time high just prior to the BTC decline. Verge was also savaged by some FUD spreading rumors that all turned out to be untrue which undoubtedly hurt it's price more during the decline. Even with those attacks, Verge has held it's own and the weak selling volume during the decline in price seems to back that up.
Today Verge is in a triangle formation that is nearly closed which predicts a break out. Two previous attempts to break to the upside failed to break the upper declining trend line further back. What is new is that now we have the very recent formation of a lower leg in a triangle creating wedge pressure to the upside. Barring a downturn in BTC we can look for a near term breakout in XVG to the upside.
Some may disagree with where I've chosen to draw my Fibonacci levels but I feel it best helps to demonstrate the resistance and support levels for this situation. The two rectangular boxes represent zones in which I would consider taking partial profits so long as the trade looks good.
My projected target zone to close a short term trade is about $0.20 for a profit of 262% from todays price. I would not enter this trade until a daily candle closes over $0.0648 and set a stop loss at $0.055.
For the average investor, todays price is an excellent buy opportunity and a long term hold ignoring a short term trade. I feel Verge could easily reach $1.00 by mid year if so, that is a 18X profit from todays price.
Personally I've been adding more Verge to my portfolio since the first of February 2018.
Good Luck!
It is one of cheapest coins in the top 30 market cap. After the correction it's currently about 80% off of it's all time high. It's relevant to the crypto-world, and XVG is focused on Privacy which is an important attribute for a decentralized asset. Verge has a respectable market share of 800 Million Dollars plus making it number 29 in total Market Cap, Trading volume in the last 24 hours is over $12.5 Million and XVG boasts of the strongest communities of supporters out there.
As to practical use, I've used Verge to transfer funds between exchanges and I can tell you that converting to Verge and transmitting my funds to another exchange is by far the fastest method (a couple of minutes) I've ever used. It was worth the commission to convert to Verge and back to me in a time sensitive situation to catch a trade in an ALT coin that was not listed on my favorite exchange.
Verge is about 25% of it's all time high just prior to the BTC decline. Verge was also savaged by some FUD spreading rumors that all turned out to be untrue which undoubtedly hurt it's price more during the decline. Even with those attacks, Verge has held it's own and the weak selling volume during the decline in price seems to back that up.
Today Verge is in a triangle formation that is nearly closed which predicts a break out. Two previous attempts to break to the upside failed to break the upper declining trend line further back. What is new is that now we have the very recent formation of a lower leg in a triangle creating wedge pressure to the upside. Barring a downturn in BTC we can look for a near term breakout in XVG to the upside.
Some may disagree with where I've chosen to draw my Fibonacci levels but I feel it best helps to demonstrate the resistance and support levels for this situation. The two rectangular boxes represent zones in which I would consider taking partial profits so long as the trade looks good.
My projected target zone to close a short term trade is about $0.20 for a profit of 262% from todays price. I would not enter this trade until a daily candle closes over $0.0648 and set a stop loss at $0.055.
For the average investor, todays price is an excellent buy opportunity and a long term hold ignoring a short term trade. I feel Verge could easily reach $1.00 by mid year if so, that is a 18X profit from todays price.
Personally I've been adding more Verge to my portfolio since the first of February 2018.
Good Luck!
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