ALT: Will Verge Consolidate Its Position?
MD: Verge price had been badly hit by the bear bug, but now it looks like the price is on the slow path to recovery.
Verge is slowly trying to recover from the bear momentum but may still take some more time to get back into the positive grind. XVG coin known for its anonymity and privacy features is a hit with investors and users has faced a lot of price fluctuations in the current market volatility. The past seven days have been a mixed bag for Verge as the coin showing volatility with the upward swing being more visible as seen from the chart where the price fluctuation has been in the range of $0.0052 – $0.0064.
Verge Price Analysis & Future Forecast-
XVG price has been showing a lot of variations over the past seven days. From a high of $0.006418 on July 15, the price spiraled downwards to $0.005171 on July 17 to the extent of 19.47%. The price then showed a bull rally to $0.006218 on July 18, the upward movement being to the extent of 20.16%. Then there was a bear momentum with the price going downwards to $0.005689 on July 19. The price somewhat stabilized and took an upward swing to $0.006385 on July 20 to the extent of 12.24%. Today, the price has fallen negligibly to $0.00625884. This shows that the Verge price has been trying to consolidate its position in the upward range, but the bears are still holding it back.
The price variations over the past few days indicate that the Verge has been trying to recover from the bear momentum and move ahead. This may take some time, but if the market shows some stability, then the XVG price could gain. Analysts predict a bearish short-term outlook but expect the medium-term outlook to be bullish for the coin and have maintained the year-end target at $0.01. Existing investors should hold their investments and think of making moves only on the market stabilizing further. Short-term investors can consider investing by tracking market volatility.