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6 July 2022
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Verge Technical Analysis: XVG/USD is down 40% since its 2020 peak at $0.0098

  • Verge price is currently at $0.0059 after a significant pullback.
  • The daily chart is now in a downtrend and extremely weak. 

Verge has finally succumbed to the selling pressure caused by the huge bull rally towards $0.01. Unfortunately, XVG lost the daily uptrend and has dropped below both daily EMAs which have crossed bearishly for the first time since February 2020. 

XVG/USD daily chart


As mentioned above, the daily chart is in a downtrend and bulls don’t have many support levels nearby. The next support point is located at $0.005 but the daily RSI might reach oversold levels before that. The last time we saw the daily RSI being oversold was on March 13 when Verge price bounced significantly.

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