XVGUSD - Update on Correction and Potential Buy OpportunitiesFollowing our previous analysis on this CC (), we have seen a minor impulse to the upside - congratulations to all those who are in the buy from our entry area.
However , at this moment, this impulse to the upside seems not to be followed by it's own correction to the downside, but by a correction in the opposite sense (flag, in yellow): this would signify that, in reality, XVG BITTREX:XVGUSD is preparing for more downside.
In this case, the downside is expected to go back and break the previous low at 0.061, before resuming it's upward impulse.
Having done all the above considerations, we recommend putting positions in break even or at least to expect a little more downside, according to where your buy entry levels are. Monitor closely.
Updates on this and smaller timeframes will follow.
In relation to cryptocurrencies, let us remind all traders that any attempt of forecasting based on wave and structural analysis has to be taken in a very conservative manner, as these financial instruments could not have been traded in the markets for a long enough time to consolidate their structure and make a valid projection possible.
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XVGUSD trade ideas
XVG/USD long term viewHello,
Please find the way to freedom ! I'am not talking about marketcap or any other fundamental background.
Just taking a simple technical analysis based on the 2 previous movements in a bullish chanel.
Thank you.
Descending TriangleCould be a sign of reversal. Watch out for falling breakout. I do not know why it would switch to a downward trend, but it is going that way.
XVG FORK PROJECTION.06 support line holding for now.
long term MA holding for now
declining volume suggest exhausted selling
failure of LTMA and .06 support would scrap this chart.
Possibly on to wave 3 and higher highs? $1.57 for a topPretty sure were just about done waves 1 and 2. The market sure is slow to pick back up but understandably.
Verge XVGWe have potential buy zones set up due to past price action respecting the zones marked up.
In my opinion privacy coins are solid investments within the cryptocurrency markets.
-KP
***Invest Wisely***
Cup and HandleI see here a cup and handle formation and next stop by 0.16$ I'm not a specialist, so take with caution.
VERGE in good conditionHopefully the crash has ended!
I have watched XVG already earlier.
After the sudden crash, perhaps initiated by some regulations or because of the New Year Festival in China (people need money to buy presents) cryptocurrencies are returning to normal.
Some faster than others.
For XVG for example I didn´t changed the TA - it was still active, even the fib retracement.
The price has just broken through the resistance (now support) at fib retracement 38.2% (11.8$).
I think that on this level one can slowly step in. The potential is really interesting: 58% to the next fib retracement at 61.8% (I do not care about the 50% retracement).
indicators (4h):
RSI: 54 (slightly bullish)
MACD: below 0 but rising
ADX: -DI is falling; + DI is rising (both at 20 now), Momentun is falling
Volume: below medium
conclusion:
I do not expect a fast rise to the next fib retracement. But after a short time period with sideways direction climbing prices seem to be possible.
xvgusd reentry for long term only if 7 cent support holds If the 7 cent support would hold, it makes sense to renter for long HODL
Divergence indicated. Maybe hit the bottom.I would still wait for other confirmations. Unfortunately, I jumped the gun and bought in above here.
Possible XVG Price Reversal Soon!As BTC broke numerous support levels, most Altcoins followed like a tail end of a comet. Everyone knows about the MACD divergence on BTC, the question is: when will it reverse?
Since XVG, along with most altcoins, behaves in a similar manner, we see a similar divergence using MACD on the H4 or H3 chart. I established the final support line for XVG using the expansion at 1.618%. From there we shall expect small corrections in the up direction. An overall Fib. expansion to the up trend turns out to be the peak price for XVG. So I set the expansion at 1.618% for the resisitence target (this may change within the course of hours).
Still looking for bottomLooking for signs that we hit bottom. I jumped the gun and already bought back in. Should have waited for more signs and confirmation.
