XVGBTC off lows awaiting volume to confirm

27 ก.พ. 2021

Hi everyone, just a quick update on XVG verge to BTC pair. As of writing the pair was trading at 41 sat, up 6 sats from lows. After reopening deposits and withdrawals by exchanges we can see that on order book on binance we are seeing additional 500mln verge that came on exchange within 2 days, around 250mln under 100 sat and next 250mln over 100 sat. We need more buying power to get the price higher, as of now what we can see that pair is supported above 32 sat where I would point a strong support. Also pair is trading in consolidation which may indicate that someone is accumulating at this levels. Unless we will break above 54 sat we are still in consolidation with a possibility of dropping to 32 sat to scare people to get out of their position at lose and to accumulate move. This is just one of option. Only break above 54 sat will indicate further upside move.

This information is not a recommendation to buy or sell. It is to be used for educational purposes only.

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