As already suspected in my article from 04.01.18!, my bearish estimation was confirmed, but....
... I believe in a magical support level
The price range between 755 - 937 Satoshis seems to be magic. It began forming since 20.12.17 and works like a charm.
... the chart brightens up
After two short-term outliers on 05.01.18 and 07.01.18, the downward trend was resumed, followed by a re-test of our magic support-level on 08.01.18 and subsequent buys. This formed a double bottom which further strengthens the support level. In addition, the price successfully broke through the EMA200 line. This now serves as a further support level.
...mostly good news
But not only the chart situation became better. There have been some positive news in the last few days: The Verge team has announced a new improved website for Q1 2018, the Korean Exchange upbit. com now allows trading of XVG/USD and since yesterday the Uquidcard also supports Verge. (https://uquid.com/verge-debit-card)
Conclusion
I'd like to see an H1-close above 1385 satoshis. This would give me a strong buy signal and should drive the price.
But anyway..... in summary, I have to assume that there will be sustained price gains in the near future. Investors and private investors are currently still a little uncertain due to the roller coaster of the last few weeks, but in my opinion they cannot evade the good specifications of the project.
Resistance-Level (Satoshis)
- 1288
- 1333
- 1385
Support-Level (Satoshis)
- 1095
- 1039
- 937-755
Related Links
https://steemit.com/xvg/@ch3rm/verge-xvg-up-to-the-moon-or-still-another-pullback
Disclaimer
This article only reflects my personal opinion and is for informational and entertainment purposes only. It is NOT a recommendation to buy or sell anything.
Charts created on https://tradingview.com