Verge (XVG) price was trading above $0.0030 mark in October 2019, and it continued to trade with moderate upside momentum till the next month. Around mid-November, the price crossed $0.0055 mark but rejected and fell below $0.0035. Later in December 2019, it regained upside momentum, and it crossed $0.0050 mark, but then, the XVG coin faced a gradual decline and ended the year around $0.0035.
The currency began this year with bullish movement, but after the immense price crash, the coin has again returned to the same level, i.e., $0.0030. The improvement in the coin is evident, yet the same might not remain for a long time as there is stagnant momentum spotted in the coin.
Verge Price Analysis
Since the beginning of the ongoing year, the XVG coin embarked on improvement, and it regained its price level above $0.0035. Then, it started trading upwards, and the price improved to $0.0058 by February 15, 2020. However, at this high, the Verge coin couldn’t manage to stay for long and started trading downwards at a tremendous pace.
On March 13, the XVG price crossed the major support and touched $0.0012. However, from this price point, the currency started reflecting immense growth as it escalated to $0.0030 by April 10. After hitting $0.0030 mark, the Verge price started reflecting sluggish movement and continued to trade around $0.0030 till the time of writing this analysis.
The moving averages viz., 50 & 200-day MAs are at $0.0025 & $0.0036, respectively. The placement of the SMA lines indicates bearishness. The upcoming period might bring a nominal loss in the coin.
The RSI is 59.80, and the same reflects no extremities in the price momentum. The current price of Verge has violated the immediate resistance level at $0.002987 and is heading towards the next resistance level at $0.003023. According to the Verge Coin Price Prediction, the XVG coin might face consolidation.