Moon boys expected a Lambo but instead XVG gave them a Limbo
Alright alright alright.
Time for my second TA, lets take a look at the never boring XVG chart.
I am no expert so do not use this as investment advise. I'm doing this for entertainment and this is just opinion.
Verge is a risky one but it regularly out-performs the big boys.
It could be ready to have another swing at them.
Before the news, I had a look at what happened to Stellar after their announcement with IBM and it retraced 50%. Verge looked like it was going to hold there around $0.07 USD but unfortunately couldn't hang on.
It's bounced off the 0.382 ~ $0.06 USD but it may keep going to the bottom of the channel ~ $0.054 USD. Worst case scenario would be around $0.045 USD ans I'll be shocked if it goes that low.
Just look at how far it has fallen.
Look at that low RSI level - extremely oversold.
Same with the MACD, it looks like it wants to cross over soon.
Although the EMA is looking bad on every time frame - but as a lagging indicator it's hard to keep up with such a drastic price drop.
One thing that makes me quite bullish is trying to do an Elliot Wave count on this.
I'm no expert (at any of this) but I can't see a valid count anywhere as wave 4 always retraces below wave 1, which is a no no....so are we currently completing wave 2?
You know what they say, wave 3 is often the longest, never the shortest ;)
Mind Geek may not be the prestigious company we hoped for but it's still a really good partnership.
Time for my second TA, lets take a look at the never boring XVG chart.
I am no expert so do not use this as investment advise. I'm doing this for entertainment and this is just opinion.
Verge is a risky one but it regularly out-performs the big boys.
It could be ready to have another swing at them.
Before the news, I had a look at what happened to Stellar after their announcement with IBM and it retraced 50%. Verge looked like it was going to hold there around $0.07 USD but unfortunately couldn't hang on.
It's bounced off the 0.382 ~ $0.06 USD but it may keep going to the bottom of the channel ~ $0.054 USD. Worst case scenario would be around $0.045 USD ans I'll be shocked if it goes that low.
Just look at how far it has fallen.
Look at that low RSI level - extremely oversold.
Same with the MACD, it looks like it wants to cross over soon.
Although the EMA is looking bad on every time frame - but as a lagging indicator it's hard to keep up with such a drastic price drop.
One thing that makes me quite bullish is trying to do an Elliot Wave count on this.
I'm no expert (at any of this) but I can't see a valid count anywhere as wave 4 always retraces below wave 1, which is a no no....so are we currently completing wave 2?
You know what they say, wave 3 is often the longest, never the shortest ;)
Mind Geek may not be the prestigious company we hoped for but it's still a really good partnership.
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