Despite the market leader, Bitcoin price, witnessing a bearish sentiment, the XVG token continues to display a strong bullish sentiment by recording a significant uptrend in valuation, highlighting a switch of interest among investors.
Positively, the Verge token has added approximately 52% within the past 24 hours and 112.60% over the past seven days, indicating a strong bullish sentiment for the XVG coin price in the crypto industry. Furthermore, its YTD stands at 238%, highlighting a positive outlook for the upcoming months.
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The XVG price traded in a consolidated range between $0.00492 and $0.00741 for about a month, indicating weak buying and selling pressure for this altcoin in the crypto industry. As the volatility in the market grew, the bulls recorded a jump of 54.80% before facing rejection at $0.0103.
After trading sideways for a while, the bulls regained momentum and jumped approximately 62.5%, after which the price faced rejection at the resistance level of $0.0150. Since then, the price has been displaying a neutral by trading in a closed range between $0.0124 and $0.0150.
The technical indicator, MACD, displays a constant green histogram in the chart, indicating increased selling pressure in the crypto space. Furthermore, the averages show a bearish movement, suggesting a mixed sentiment for the altcoin in the coming time.
If the market holds the price above the support level of $0.0124, the bulls will regain momentum and test its resistance level of 0.0150 this week. Moreover, if the XVG price continues to trade under a bullish influence, it will further rise and test its upper resistance level of $0.0180 this month.
Negatively, if the bears overpowered the bulls, the Verge price would lose momentum, break its support level, and fall to test its lower support level of $0.0103. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its low of $0.00741 in the coming time.
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