XVG - Ongoing Study

18 May 2018

Verge, the crypto that everyone loves to hate. I can say that I dont fall in to that camp, my goal is to maintain a neutral stance and trade based on what the market is saying. I've drawn a yellow box around, what I think to be, a fractal that may mark a reversal. If we consider the position and subsequent direction of the 13 EMA (RED) at the previous fractal, it may suggest a pending move up through the 300 EMA (BLUE). Bullish divergence of the previous fractal matches that of the current fractal. The Williams R is oversold and appearing to make a higher low with the strong potential of penetrating the 13 EMA (RED) in the near future. Significant levels of resistance have been marked by the green, yellow and red horizontal dotted lines. Nothing is guaranteed, but I believe this will be trending up soon. I hope this has been beneficial to your perspective.

Best regards,
T. Savant