Sunday, March 4, 2018

Verge Price Update 03/05/2018: Resistance To Continue Stalling Growth

Privacy-focused cryptocurrency Verge is one of the most popular names when it comes to cryptocurrency enthusiasts looking forward to an anonymous cryptocurrency. The currency has been in the news for most of the second half of the past year. The arrival of the wraith protocol, as well as the hype created by John McAfee, resulted in a major surge in the price of Verge. However ever since it hit the all-time high, the price has taken a major hit. Let us take a closer look at how Verge has been performing recently and where the currency is likely heading.

(XVG) Verge Price Over The Past 24 Hours 

Verge price at the opening of the day was at $0.058, from where the currency took a hit and went down to $0.054 at the close of the day. The price has fallen by 6.75% over the course of the past 24 hours. Verge’s price was on a continuous, free-fall over the course of the day with a recovery seeming apparent at almost no point. The market cap too, took a hit as it fell from $857 Million to $802 Million.

(XVG) Verge Price Over The Past 7 Days 

Over the past 7 days, Verge price seemed to be on the rise but over the past 2 days, the trend reversed. The currency began the week at a price of $0.057 and eventually peaked at a high of $0.064 – at which point, the market cap had reached $950 Million and was eyeing the $1 Billion mark. However, that was not to be, as the currency again collapsed, closing the week at $0.054.
Expected movement of Verge price | Image: Tradingview
 Verge price is expected to continue in this slow downtrend, followed by a mid-week uptrend – which is again expected to collapse, as the lines of resistance are too thick to be breached. A strong resistance has formed at the $0.062-$0.065 mark, resulting in every attempt at forming an uptrend ending up in a collapse of the currency’s price.

Source: https://cryptocrimson.com/

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