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RE: The Infamous Verge (XVG) Triangle - It Broke down - Now What?

in #cryptocurrency7 years ago

XVG broke downwards, stopping, as it seems, along a trend line that is roughly around some of the lower ends of the 3-hour candlestick chart. Breaking this trend line could very well mean a large sell off, especially considering the various other pressures - from up-close (15-minute chart), we can spot a descending triangle as buyers and sellers determine where to take the coin next - and, given the sharp drop preceding it, this could very well signal a bearish pennant , adding fuel to the fire that will break through the 0.00000814 BTC 0.60% resistance to challenge the next few resistance lines.