Verge Appears Intraday Bullish as it Faces Resistance at $0.0080
Verge (XVG), in the month of June 2020, reclaimed a yearly high price level just when other coins of the market were lacking steady momentum. Verge, after a year of trading laterally, gained a stupefying momentum and hit a high at $0.00947 while currently trades at $0.00696.
As the smart contract blockchain platform, Verge has made plenty of developments and extended its services that benefitted XVG coin as it gains fresh high. The currency after retreating yearly highs pulled back as low as $0.0059 towards the end of the previous month and has by approximately rebounded by 17% until the press time.
Verge (XVG) Price Strengthens but Faces Key Resistance
On the 3-hourly chart, Verge currency has strengthened in the intraday against the US Dollar. This has led to XVG/USD bullish candle of a price trend to hit the upper 20-day Bollinger Band. The coin since the beginning of the ongoing month is facing strong resistance around $0.0080 price area to reclaim the previous month’s momentum.
However, due to correction, XVG has lost support from 50-day & 200-day daily MAs after plummeting from $0.0069 and $0.0071 price area. The major support and resistance to watch out for lies at $0.0059 and $0.0080, respectively. The technicals laid are confirming the positive sentiment in the intraday as the MACD crosses above the signal line, and the RSI of Verge is seen inclined towards the overbought zone at 57.56 due to increased demand.
