Verge (XVG) Potential Outcome
Some things I've noticed on the 1H chart:
- Spotted a bullish ascending triangle with a clear break through the resistance line (Bull flag). If price retraces and tests previous resistance line, then continues upward, that could signal the bullish reversal we've all been waiting for. It may also just continue it's trajectory upward without retesting the previous resistance line.
- Bullish cross can be seen between convergence line (blue line) and baseline (red line) which is a pretty good sign. No major deviation between the lines meaning that the levels are normal.
- Notice a clear break upwards through the kumo cloud after testing within the cloud. This could also be considered a bullish sign.
- RSI was fairly overbought but the levels are starting to decline back to normal levels. Let's see if the price can hold.
- Could that be another bull flag forming??? Only time will tell I suppose! ;D
I am no financial advisor. Please be VERY diligent with your research before making any investments. Protect your capital!
- Spotted a bullish ascending triangle with a clear break through the resistance line (Bull flag). If price retraces and tests previous resistance line, then continues upward, that could signal the bullish reversal we've all been waiting for. It may also just continue it's trajectory upward without retesting the previous resistance line.
- Bullish cross can be seen between convergence line (blue line) and baseline (red line) which is a pretty good sign. No major deviation between the lines meaning that the levels are normal.
- Notice a clear break upwards through the kumo cloud after testing within the cloud. This could also be considered a bullish sign.
- RSI was fairly overbought but the levels are starting to decline back to normal levels. Let's see if the price can hold.
- Could that be another bull flag forming??? Only time will tell I suppose! ;D
I am no financial advisor. Please be VERY diligent with your research before making any investments. Protect your capital!
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