The cryptocurrency market is battling with a persisting bearish trend with most of the top coins currently in the red zone at the time of writing. Leading coin Bitcoin has been trading in the $8500-8600 range after dropping from the $9000 mark a few weeks back.
The inability of BTC to cross the $9000 psychological barrier has largely affected the entire ecosystem. However, during the past 24 hours, there have been some coins that enjoyed positive returns in trading.
Verge (XVG) Trading At Double Digits Following PornHub Announcement
Although not the crypto enjoying the highest gains, Verge (XVG) is among the altcoins enjoying massive upturn at this crucial period. XVG has added 24.39% to its value against the US Dollar at the time of writing.
The latest upward trend of XVG came after PayPal halted payment support for Pornhub, making way for Verge, a strategic partner of the latter.
As reported by Newslogical, Pornhub directed its users and performers to use Verge (XVG) as a major payment option after Paypal abruptly closed down its payout system for the platform.
This move meant that thousands of performers as users of the platform will be opting for XVG as a payment option.
In the past few days, Verge keeps showing up with a number of blissful news. Earlier, NewsLogical described that Verge formed an alliance with a charity foundation established by Filipino legendary boxer Manny Pacquiao.
Verge Intraday Analysis
XVG price started with the coin trading at $0.0038, after a few hours the coin began to make a bullish trend against the USD. It continued to push across the 0.0045-0.0050 region before hitting its daily peak $0.0052 at 08:50 UTC. At the time of writing, there has been a slight retracement, making XVG trade at $0.004889 with a market cap of $78,478,911.
Looking at the trend of the coin to the upside , the important resistance level is $0.005. This can be surpassed considering the myriads of blissful news surrounding the cryptocurrency especially if the coin continues on its current trajectory. However, if a bearish downturn occurs, XVG could rebound to support levels within the $0.0040 level
EOS Intraday Analysis
EOS price failed to stay above the $3.50 resistance level, dropping below the $3.40. The altcoin is now trading around $3.350, forming a new resistance around $3.40.
If there are more downsides, the next stop for the bears might be the $3.250 level. On the upside, EOS may regain strength to catch up with its previous resistance $3.500.
Tron Intraday Analysis
Tron price earlier moved above $0.0200. However, the coin failed to break the $0.0205 resistance and started a fresh decline. At press time, TRX is valued at $0.018429 with the coin losing 5% of its value in the last 24 hours.
If the current trend continues, TRX could drop to the support region at $0.0175. On the flip side, an upturn in value will see the coin near the $0.0190 resistance level.
