Verge has not been going up nor down in the past few weeks, but actually sideways. It has created one of the biggest pennants I have seen in my life and in a week or so, will possibly break the resistance.
After the pennant break, we have two smaller resistances, as well as a HUGE resistance at 2000 satoshi. The first target is 1800-2000 satoshi I'm presuming that the price will bounce down from the 2000 resistance and then bounce off the lower (later previous resistances) now new supports, and then proceed to break the 2000 resistance. The second buy-in is at 1400 satoshi once again, right before a massive rally. This rally will have to break the 2000 resistance.
After it breaks, we will have to expect a massive increase in volume, and perhaps another 1400 satoshi increase after about a month moving into March/April, creating a final target of 2800-3200 satoshi second target.
Take this with a grain of salt, and always DYOR, but the facts that I'm seeing strongly suggest a bullish continuation :)
Happy trading!
After the pennant break, we have two smaller resistances, as well as a HUGE resistance at 2000 satoshi. The first target is 1800-2000 satoshi I'm presuming that the price will bounce down from the 2000 resistance and then bounce off the lower (later previous resistances) now new supports, and then proceed to break the 2000 resistance. The second buy-in is at 1400 satoshi once again, right before a massive rally. This rally will have to break the 2000 resistance.
After it breaks, we will have to expect a massive increase in volume, and perhaps another 1400 satoshi increase after about a month moving into March/April, creating a final target of 2800-3200 satoshi second target.
Take this with a grain of salt, and always DYOR, but the facts that I'm seeing strongly suggest a bullish continuation :)
Happy trading!
Comment:
As we can see, the price of verge went down yesterday, but bounced right back up from the support, confirming the pennant shape once again. Few more days until potential breakout. Set stoploss at 900 satoshi.