Saturday, April 13, 2024

Verge Token Jumps 135% This Week! XVG Price To Surge 3X In Q2?

Verge Token Jumps 135% This Week! XVG Price To Surge 3X In Q2

Despite the market leader, Bitcoin price, witnessing a bearish sentiment, the XVG token continues to display a strong bullish sentiment by recording a significant uptrend in valuation, highlighting a switch of interest among investors.

Positively, the Verge token has added approximately 52% within the past 24 hours and 112.60% over the past seven days, indicating a strong bullish sentiment for the XVG coin price in the crypto industry. Furthermore, its YTD stands at 238%, highlighting a positive outlook for the upcoming months.

Also Check Out The : Bitcoin, Ethereum, and XRP Price Prediction For 2024: Here’s What To Expect

Verge Token (XVG) Price Volatility Increases!

The XVG price traded in a consolidated range between $0.00492 and $0.00741 for about a month, indicating weak buying and selling pressure for this altcoin in the crypto industry. As the volatility in the market grew, the bulls recorded a jump of 54.80% before facing rejection at $0.0103.

Verge Price Analysis
TradingView: XVG/USDT

After trading sideways for a while, the bulls regained momentum and jumped approximately 62.5%, after which the price faced rejection at the resistance level of $0.0150. Since then, the price has been displaying a neutral by trading in a closed range between $0.0124 and $0.0150.

The technical indicator, MACD, displays a constant green histogram in the chart, indicating increased selling pressure in the crypto space. Furthermore, the averages show a bearish movement, suggesting a mixed sentiment for the altcoin in the coming time.

Also Read : dogwifhat (WIF) Becomes The 3rd Largest Memecoin! What’s Next?

Will XVG Price Go Up?

If the market holds the price above the support level of $0.0124, the bulls will regain momentum and test its resistance level of 0.0150 this week. Moreover, if the XVG price continues to trade under a bullish influence, it will further rise and test its upper resistance level of $0.0180 this month.

Negatively, if the bears overpowered the bulls, the Verge price would lose momentum, break its support level, and fall to test its lower support level of $0.0103. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its low of $0.00741 in the coming time.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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