Verge made almost 50% plunge after announcement of new partnership, but from technical analysis side I see it only as correction, not a reversal! Here's my view on Verge from different time frame charts:
4 hour time frame chart:
After wave 5th will be completed, I expect bigger ABC flat correction!
1 hour time frame chart:
15 min time frame chart:
Note: This is not a financial advise or trade call, it's only my personal opinion and arrows in the charts shows just an indication of direction, not the specific points or targets!
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Your crypto_analyst
@andriustovis
Hi Andrius. Another great analysis. You are very rarely wrong.
Thanks!
Thanks @andriustovis!
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Thank you, another ew analyst thought it would drop to .043 before heading upwards again , and that was major support if broken would send it to .015/.02.. Do you see that possibility at all in the charts?
I don't believe in support and resistance technique:) But, yes it can drop to 0.043 e.i. 88.6% fibo retrace! Theoretically it can drop to .015/.02.. as well and it such scenario this move up was the end of very extended (X) wave and a plunge would be (Z) wave with new low! As I didn't see such structure in any crypto so far, I believe it will soar.
Okay thank you, its interesting how many analysts use such varying methods. I am still learning myself. To be honest I would love it to drop first, as I sold out at the last high (did well) and trying to pick a re-entry point. Do agree with you that at some point it will soar, now or later is the question...
What do you see longer term also for XVG?
I think it will hit historic top! What's next, nobody can tell :)
Just want another sizeable dip first! Because I like it long term and think it will become a quite valuable coin..
Let’s be real I am watching XVG since long and I can say from my observation and experience that IT IS A REAL PUMP & DUMP COIN. Don’t put too much money in this. I have been trapped in this when it was $0.25. Since then I couldn’t see to come back at this level.
If your analysis proves correct then it will be party for me 🍻🍻.
Thanks!
And after it hits the target of 0.17 cents there will be a major correction? Or more likely it will continue to go upwards? :)
I expect bigger ABC correction similar to ABC formed in 2018 January! I don't think it will just continue upwards as this predicted impulse is not short and corrections always happens :)
Any updated thoughts for XVG?
Later today!
Thank you