Verge (XVG) – The cryptocurrency market has started this weekend with good news for the community, with Bitcoin has its main reference revolving around the band of $ 5100, a sign that the market projections made for the ecosystem in general are Fully complying
At the time of writing, the crypto market has recovered $4 billion dollars in the last 24 hours and its capitalization has risen to just over $ 173 million dollars, with BTC again positioning its domain at 52%.
The altcoins follow an expected behavior, with some ups and downs that is no more than a symptom of the entry and exit as investors turn their eyes towards BTC and then to the altcoins according to the market response.
Many investors only look at the main cryptocurrencies when it comes to investing. However, when you are an investor, trader or any other simile you want to apply, you should look at the panorama around. Of course this time we are talking about Verge (XVG), the currency focused on privacy.
While it is true that it was recently affected by piracy cases, it is also true that this altcoin presents great investment options, since it has shown that through its alliances with the adult entertainment industry and other top-notch firms, it can generate credible use cases in the lucrative world.
Verge was introduced in 2014 with the aim of improving the anonymity of Bitcoin, something that we believe has already achieved. Using technologies such as the TOR browser, the I2P protocol and the Wraith protocol to mask identities and facilitate transactions is an achievement in itself.
Verge (XVG) Price
It has a maximum offer of 16,555,000,000 XVG coins for the crypto market. At the time of writing it ranks 50th in the global ranking with a spot price of $ 0.00866 (-0.97%) and a stock market capitalization of just over $ 137 million.
Verge’s market has been highly volatile, but has been generally bullish in recent months. It has been influenced like many other altcoins, by the movement of the ecosystem in general. Its maximum for this year was reached on April 8 when he achieved the price of $ 0.010567 (+ 25.26%) and an Market cap of USD 172.505.591.
Verge (XVG) Technical Analysis and Price Prediction
In the short term, the cryptocurrency presents a typical pattern seen before; but with a strong prospect the maximum point reached on April 8 of this year will be reinvested.
This means Verge (XVG) has a new challenge to achieve and it will precisely overcome the immediate resistance of the milestone reached at the beginning of the month, driven to a large extent by BTC uptrend rally.
The CMF indicator is already telling us that a possible change of pattern will occur in the short term, and it will natural, after the withdrawal of capital from the ecosystem resulting from the large profits obtained by long investors.
If we observe in detail, the same graph but with the help of other indicators, we can achieve a better reading than previously peak. XVG has a band of prices determined by the lever pattern previously created with a maximum resistance levels R1 ($ 0.01) and a strong support at S1 ($ 0.0082), as the main objective to achieve and this has reached at the beginning of the week .
To reinforce, Elliot Wave Triple Correction is in its third wave and it is possible that it will again achieve S1 levels before the bullish crossover predicted by EMA for the beginning of next week and already predicted by CMF in the previous graph, due to the logic of new bets to the upside in the ecosystem.
As if that isn’t enough, Aroon Downtrend is heading south, after being on the top, a sign that the bearish trend is coming to an end.
Verge (XVG) Price Prediction: When Will XVG hit $0.01
To make the prediction of when we would be at $ 0.01 levels, the 1D chart with Momentum indicators is a clear instructor.
As we can see, XVG has created three important uptrends last year and in these trends, Momentum has been at average levels of 0.025 (bullish). Its average time has been 100 days between one rally and another; so, taking these patterns into consideration, we could consider that the current trend is to correct levels up to S1 and then start the year-end impulse up to levels close to R1 (> $ 0.01).
Logically we will enter a divergence period, since EMA prediction for the beginning of next week is a bullish cross and BTC the great influencer of XVG is stylishly generating bullish patterns. So we can reinforce the July 2019 thesis as the horizon for the expected objective, let’s see how the Stochastic indicator behaves in this 1D chart.
According to the last chart, the pattern confirms what was generated by Momentum. A channel similar in time and % variation between maximum and minimum was generated identically between Nov-Dec 2018 and Mar-Apr 2019, after a period of ‘grace’.
In conclusion, we are within the 100 days predicted by Momentum for a similar abrupt change in prices to occur in % variation that allows XVG move to levels of $ 0.01. This % worth highlighting must be equal to or greater than 25%.
Therefore, we could see Verge (XVG) in the medium-long term would reach levels of $ 0.01 (forecast July 2019) or even much earlier, depending on the degree of influence that the ecosystem can generate in general.
According to the projections made for BTC, we will see the cryptocurrency again test levels of $ 5800 for half of Q2 2019, so it is possible that July 2019 is a good scenario to see solid Verge levels in R1 ($ 0.01).
Verge (XVG) Partnerships in Hall of Fame
Verge has a very aggressive development and marketing team, proof of this is that after the piracy case, its head of marketing and operations, Kriss Chase, quickly came up with a patch that was also launched on Github.
While XVG has not presented significant new developments in recent months since the case of piracy, its use cases and partnerships is being strengthened as time goes by. Verge (XVG)’s partnership with NetCents to integrate XVG coin into its ecosystem is going far and wide with series of gaping adoption.
In the respective press release, NetCents indicated that it will work with Verge to develop new opportunities and introduce value to alliance as payment bridge, instant settlement programs and credit cards for users.
Last year, after Verge’s announcement of her alliance with Pornhub, the most important pornographic site, at the beginning of October, they launched another important announcement to be included in the final event of Nascar Europa, giving a great marketing association beneficial for cryptocurrency.
Although the cryptocurrency focused on privacy has a very low TPS compared to other altcoins, barely 120 TPS and very far from VISA, which is usually the means of payment for adult sites, its approach to anonymity allows the thousands of millions of users who visit this type of pages pay without being exposed through the cryptocurrency.
This gives the business a completely different approach. According to its creator, since the moment of the alliance, more than 1000 users have joined the Pornhub site through Verge and, this does not represent 10% of Verge’s capacity.
In addition, its possible alliances with banks, its enlistment in Bitfinex against the USDT, allow to infer that good things are to come, and that could drive the cryptocurrency to levels not seen until now. Verge has a historical high close to half a dollar per unit at its best time of departure.
If the alliance with the banks is positive, there is talk of anchoring VERGE to a stablecoin value such as the dollar, which would be a significant boost in its price.
For now there has been more information about a possible date of this strategic movement, so it is possible that an investment below that price will always be feasible in terms of profitability to long term.
While most other cryptocurrencies think of mass adoption, Verge is already on its way to it. Through alliances with other popular pornographic sites like Brazzers, and the launch of its Verge Holdings debit card, whose popularity is increasing significantly, Verge (XVG) will no doubt sees value rise in coming days.
Editor’s Note: The author mistakenly wrote “$1 Trillion Dollars”. The mistake’s highly regretted