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Verge (XVG) Technical Analysis – Is Verge on The Verge?

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Verge
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After bottoming out at the $.02 level back in mid-March, Verge (XVG) witnessed a steady rise into the month of April preceding its announced arrangement with Mindgeek, who owns Pornhub and other adult entertainment sites.

On the day of its announced partnership with Mindgeek, both investors/traders were treated to wild; volatile action, which witnessed XVG being whipsawed all over the map on enormous volume with the coin closing-out the session of 4-17-18 at $.0725 on greater than 6X its average daily volume. Talk about whiplash.

Nevertheless, things seemed to have calmed down since as it was apparent that both investors/traders attempted to make some sense of the arrangement between XVG and Mindgeek. With that behind us, let’s take a closer look at XVG from a technical perspective and drill in a bit by glancing at the daily chart below:

As we can observe above, XVG appears to have put in a bottom in mid-March at the $.023 level and was progressing smartly into the mid-April announcement where XVG was the recipient of a 350% move out of its lows. Additionally, Verge (XVG) recaptured both its 50 and 200-Day moving averages in the process placing XVG in a favorable technical posture where it remains today despite the wild action on 4-17-18.

Thus, while both investors/traders had to deal with the sloppy trading action of 4-17-18, which has subsequently harnessed the move, for the time being, XVG remains in relatively decent technical shape with the coin trading above its 20/50 and 200-Day moving averages, respectively.

However, although XVG continues to display decent relative strength, it will have to contend with the large volume red daily bar in order for XVG to regain its Mojo prior to its recent announcement with Mindgeek.

Therefore, moving forward, both investors/traders will need to see XVG trade above the $.118 figure and be capable of holding noted level before any further progress is attained, while the $.058 level, which just so happens to coincide with both the 50 and 200-Day moving averages, provides short-term support.

In answer to our title of, “Is Verge on The Verge?”, the simple answer is, not yet. However, we’ll leave you with some positive news. As we keystroke these words, it was just announced that Bitfinex will now support XVG on their platform, which ultimately, provides for additional liquidity and eyes.

Happy Trading!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of brian donovan via Flickr

Chart courtesy of Trading View

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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