Long
XVGBTC on Binance
Updated
XVG had a good run a couple of weeks ago, is it time for another run?
Support and resistance lines have been followed very well by XVG, stretching as far back as 21 December for support. Right now it's making a symmetrical triangle inside a bigger one, MACD looks ready to go and STOCH is showing oversold. It could potentially drop down to the support line, but I don't think it will... I think so because on the 4H chart, XVG is neither overbought or oversold, meaning that it could potentially go higher now.
Since we're pretty high up already I would say to set a stop loss a little bit underneath the teal line. If your stop gets triggered we will have another buy opportunity at the bottom support.
Support and resistance lines have been followed very well by XVG, stretching as far back as 21 December for support. Right now it's making a symmetrical triangle inside a bigger one, MACD looks ready to go and STOCH is showing oversold. It could potentially drop down to the support line, but I don't think it will... I think so because on the 4H chart, XVG is neither overbought or oversold, meaning that it could potentially go higher now.
Since we're pretty high up already I would say to set a stop loss a little bit underneath the teal line. If your stop gets triggered we will have another buy opportunity at the bottom support.
Note
Second target is reached! Congrats on 20% if you're still holding.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.