Just like Bitcoin’s recent halving, much expectation has been placed around the Verge upcoming halving which is less than 30 days from now. Enthusiasts of the privacy-oriented cryptocurrency are of the belief that once the halving takes place, coupled with the fact that Vergecurrency is signing some new partnerships, XVG crypto will see some value rise in the market.
However, Verge (XVG) has begun showing signs of growth in the ecosystem. In the last 24 hours, Verge has made significant gains that places it atop in the cryptocurrency market.
While the likes of Bitcoin, Ethereum, XRP, and some other leading cryptocurrency are yet to find traction on the upside trend, Verge cryptocurrency is making significant gains with a strong rally on the upside trend. At press time, Verge (XVG) recorded the highest gained value in the last 24 hours among the top 100 coins in the market today.
Verge has gained a whopping sum of over 21% at press time against the US Dollar in the last 24 hours.
Verge (XVG) began the last 24 hours with a price of $0.006060. However, at the mid-Asian trading session today, the privacy-oriented cryptocurrency surged to around $0.0075 and later moved to $0.0078.
After a slight retracement, a unit of the XVG coin is priced $0.007448 at press time against the USD but, XVG remains on the upside trend.
Verge (XVG) Intraday Price Analysis
Since the last 24 hours, there have been a series of interference between the 100 SMA and the 200 SMA lines of XVG on the chart, signaling a mixed wave of bullishness and bearishness.
At present, Verge has strong support at $0.0049, and this would be the worst-case scenario for the cryptocurrency if a plunge happens suddenly especially if Bitcoin also witnesses a significant fall in the market.
However, Verge (XVG)’s next resistance is at the R1 level ($0.0079). According to the Elliot wave pattern, Verge could make a retest at this point. If Verge manages to complete the Elliot wave and breaks $0.0079 within the next 48 hours, more bullishness can be expected from the cryptocurrency.