Verge Price Prediction 2021 – Will XVG Hit $0.055 Soon?

Verge Price Prediction 2021 - Will XVG Hit $0.055 Soon?
  • Bullish XVG price prediction ranges from $0.025 to $0.054.
  • The XVG price might also reach $0.055.
  • XVG bearish market price prediction for 2021 is $0.009.

In XVG price prediction 2021, we use statistics, price patterns, ADX, and much other information about XVG to analyze the future movement of the cryptocurrency. 

The Verge (XVG) is an open-source, decentralized cryptocurrency. The XVG claims to offer completely unknown transactions by hiding and changing the location and IP address of the people involved in making XVG transactions. In 2014 Verge came into existence under the name DogeCoinDark, but in 2016, it was rebranded to Verge. Actually, DogeCoinDark is a fork of the popular Dogecoin blockchain and was created to provide an anonymous alternative to Dogecoin

Current Market Status of Verge (XVG)

According to Coingecko, the price of XVG is $0.02428 with a 24-hour trading volume of $21,397,696 at the time of writing. However, XVG raised to 3.66% in the last 24 hours.

Moreover, XVG has a circulating supply of 16.46B XVG. Currently, XVG trades in cryptocurrency exchanges such as Binance, Huobi Global, Gate.io, HitBTC, and Bitcoin.com Exchange. 

Verge (XVG) Price Prediction 2021

Verge (XVG) holds the 138th position on CoinGecko right now. XVG price prediction 2021 is explained below with a daily time frame. 

XVG/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is most commonly seen during downtrends and often interpreted as a bearish signal. The ascending triangle pattern, reversed in the descending triangle pattern.

As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

The descending triangle can be bullish or bearish. A regular descending triangle pattern, traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, XVG is waving at $0.024. After this, XVG may continue to fall or rise according to the direction of the breakout. With this pattern, XVG might reach the resistance level at $0.085 soon. If the trend reverses, then the price of XVG may fall to $0.015.

Verge (XVG) Support and Resistance Level

The below chart shows the support and resistance level of Verge (XVG). 

XVG/USDT Support and Resistance Level (Source: Trading view)

From the above chart, observed that the following are the resistance and support levels of XVG.

  • Resistance Level 1 – $0.025
  • Resistance Level 2 – $0.036
  • Resistance Level 3 – $0.054
  • Support Level 1 – $0.015
  • Support Level 2 – $0.009

The chart depicts the bearish performance of XVG over the previous month. However, this trend might continue to reach a resistance level at $0.054 soon. On the contrary, if the trend reversed then XVG might fall to $0.009 showing a bearish signal.

Verge (XVG) Average Directional Index (ADX)

Let us now look at XVG’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.

XVG/USDT ADX (Source: TradingView)

The above chart represents the ADX of XVG with the range at 28.25, so it indicates a strong trend.

Conclusion

The XVG is one of the cryptos which is great for long-term investment. In addition, XVG price prediction will be bearish or bullish, until the breakout direction, confirmed. But, it has a good chance of reaching $0.26 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the XVG ecosystem, the performance of XVG would rise reaching $0.054 very soon. But, it might also reach $0.055 if the investors believe that XVG is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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