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XVGUSD trade ideas

Indecision with XVG - A Continuation Pattern Emerging?A lot has been written about XVG in these past few weeks, with many being hopeful. This led only to disappointment as the XVG continued to show poor performance. Most original Technical Analysis charts (including my own) indicated what appeared to be strong evidence for a symmetrical triangle. This suggested a quick price breakout in the positive direction for another strong impulse wave. Conservative targets for the currency suggested a price around $0.50, while more aggressive values were upwards of $0.70 for the near term. Whats going on with XVG? XVG appears to be in a deep continuation pattern (rectangle). Strong support is shown around $0.135 and strong resistance around $0.250. Over the past two weeks, the price has oscillated wildly between these two points, forming a rectangle pattern. Despite this, there has been a fairly consistent decrease in volume traded for the currency suggesting that some kind of breakout is occurring in the near future. The MACD for the currency is beginning to roll upwards, suggesting that the price could break positive as the crypto market cap grows off yesterday's flash crash to 0.650G$. Additionally, the MACD roll as well as low trade volume could potentially indicate an oversold condition. In other words, a decision is on the horizon. Look for a breakout at $0.25, and then at $0.30. If these targets are met, then XVG will likely test new highs at $0.50. However, it is important to bear in mind that the rectangle patterns can indicate reversal such that the price could just as well break downwards. If this occurs, then expect resistance at around $0.09. While, this is not my primary count due to MACD and volume, I would like to cite this as a possibility. Confidence 3.0/5.0 Keep it real @mxcrypt Note These solely my own ideas. This is by no means professional financial advice and I cannot be held accountable for any investment decisions undertaken by reading this article. Found this helpful? Feed me some crypto! BTC Wallet :3PPENyabp2gsEfNahLyhMsgdwtjbodrtFm ETH Wallet :0x7792cB95e9faa8B4049c88dD0dD567Cb843bc696 LTC Wallet :MXDmNsYKccTxnyXe4vpq3XrbstHsKex9S9
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by hyper_cubist
7
XVGUSD - Possible End of Corrective Wave PatternPossible completion of the final wave E corrective wave right at the .50 retracement level. Hopefully signalling an end of the corrective period. Full release of Wraith across all platforms official as of Jan. 10 (Linux, Win, OSX). Market down overall so a reversal of the altcoin market should give XVG a strong surge into a new impulse wave pattern. ETH's recent run and reversal yesterday may signal it's at the end of wave 5 and will begin its corrective pattern. As ETH's bull run took a lot of money from alts, the reversal to corrective wave pattern may signal a bullish return to alts (and subsequently XVG). This is my first post so please feel free to tear it apart, though constructive criticism is most appreciated. Cheers and good luck!
XLong
by ChefReign
2
XVG about to EXPLODEXVG is forming a symmetrical triangle, which usually is a powerful continuation signal. The symmetrical triangle also happens to be the corrective wave of wave 1 in the form of a ABCDE pattern, and its completion signals that wave 3 will start soon. Since wave 3 is usually the longest, XVG probably will hit at least $0.39 (1 to 1 Extension). However, because the crypto market is so bullish, XVG will most likely exceed that target, possibly reaching $0.65 (1.618 Fibonacci Extension) or more. In addition, within the symmetrical triangle, there are three falling wedges. The first two wedges led to a noticeable spike in price but failed to bring a decisive breakout. But as the saying goes, "Third time is the charm," the third wedge (the one XVG is currently forming), will likely bring an all time high. Market trends tend to come in sets of three (sometimes two). For instance, the impulse waves have 3 motive waves (waves that drive the price up) before a correction. Also, the triple combo corrections and the WXYZ corrections have 3 corrective sub-waves before starting another impulse. Once three of whatever pattern happens, the price is likely to change. XVG's three corrective wedges could signal the end of the corrections.
XLong
by aoeuaoeu
9