Hi my fellow friends, here I'm with the power of Technical Analysis. Always remember, I'm like everyone here who is trying to improve my views on Charts and patterns, never take this as a financial advise because you are by your own.
So as we can see in the charts of
XVGETH
the 20 EMA (blue) still uptrend and show a great volume between March 23 and 04 April which could be a great signal. Perhaps one of the reasons for the pump in the volume was because BitIndia one of the biggest exchanges in India announced they are listing XVG, and the end of XVG crowdfunding with the announcement of a reward by Verge to as they call #vergefams who donate for the campaing. Anyway, XVG is gaining more and more notoriety among the crypto investors and it could lead to a bullish in the future.
About the analysis:
We have a resistance close to 0.00017915 and as you can see now we haven't broken it yet, but if it bounces in the support line on 0.00014800 we could expect an uptrend hitting the finish of Elliot's Wave close to 0.0002198 (76.40% Fib).
My guess is that we have to wait for a consolidation since we can't guarantee we are in a huge uptrend, that way if you are holding a stoploss between 0.00012442 and 0.00013200 would be ideal. If you want to buy you should wait to see if the resistance line will be broken.
So as we can see in the charts of
XVGETH
the 20 EMA (blue) still uptrend and show a great volume between March 23 and 04 April which could be a great signal. Perhaps one of the reasons for the pump in the volume was because BitIndia one of the biggest exchanges in India announced they are listing XVG, and the end of XVG crowdfunding with the announcement of a reward by Verge to as they call #vergefams who donate for the campaing. Anyway, XVG is gaining more and more notoriety among the crypto investors and it could lead to a bullish in the future. About the analysis:
We have a resistance close to 0.00017915 and as you can see now we haven't broken it yet, but if it bounces in the support line on 0.00014800 we could expect an uptrend hitting the finish of Elliot's Wave close to 0.0002198 (76.40% Fib).
My guess is that we have to wait for a consolidation since we can't guarantee we are in a huge uptrend, that way if you are holding a stoploss between 0.00012442 and 0.00013200 would be ideal. If you want to buy you should wait to see if the resistance line will be broken.
Comment:
Let me know what is your thoughts guys! :D
