Waiting for a breakout from the area of convergence

There is a downward trendline, forming a triangle with previous support. This could be a large bull flag. XVG has moving averages converging towards this area. Overhead, there is heavy volume traded between 1000 and 1169. I am watching for a breakout to the upside to work its way back to the resistance above at the areas 1575, 1724. I am guessing an improvement in market sentiment from bitcoin bouncing off its support OR an announcement from the XVG team would be the likely catalyst for the pump. I don't see it going too much lower with all the followers and attention that it still has. If it reaches its previous high from these levels, that would be a 100% gain.