XVG Technical Analysis: Sellers at 50-day EMA Reject Breakout Rally

XVG coin price outgrows the descending triangle pattern, but the breakout rally shows higher price rejection near the 50-day EMA. Key technical points: XVG coin price struggles to surpass the $0.011 horizontal level. In addition, the 50-day EMA acts as a barrier to the breakout rally. Finally, the 24-hour trading volume of Verge is $3.44 Million, marking a 60% fall. Past Performance of XVG XVG coin price shows a bullish recovery from the $0.008 mark resulting in the long-coming resistance trendline breakout. However, the 50-day EMA fulfilled the retest demand by the higher price rejection candles. Nonetheless, the post-retest rally surpasses the 50-day EMA with a 4.87% recovery in the last 24 hours. Source-Tradingview XVG Technical Analysis XVG coin price shows a bullish engulfing candlestick taking shape near the $0.011 mark. Hence, the post-retest rally is ready to ignite if there is no higher price rejection observed later today. Verge token trades slightly higher above the 50-day EMA, but the price action confirmation demands a closing above it. Hence, traders eager must wait for a minimum higher price rejection risk. RSI Indicator: The RSI slope grows from 40% to 57% within a week, reflecting the boom in the buying pressure. Moreover, the 14-day SMA provides support to continue the uptrend. MACD Indicator: The MACD and signal lines race towards the zero mark in the daily chart with the increasing bullish spread after the ...