There is a possibility for the beginning of an uptrend in XVGETHTechnical analysis:
. Verge/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00004020 to 0.00002930). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00004020)
Ending of entry zone (0.00002930)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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TP1= @ 0.0000490
TP2= @ 0.0000565
TP3= @ 0.0000625
TP4= @ 0.0000700
TP5= @ 0.0000796
TP6= @ 0.0000968
TP7= @ 0.0001186
TP8= @ 0.0001453
TP9= @ 0.0002030
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