• The bears are in dominance of the market.
• Traders may consider selling to the next key support at $0.0088
Supply zone: $0.0088, $0.0090, $0.0094
Demand zone: $0.0084, $0.0082, $0.0080
XVGUSD Medium-term Trend: Bearish
Verge is in a bearish trend in its Medium-term outlook. The coin which has been in a range bound market is now experiencing a trend reversal as the pressure from the bears moved the price of Verge from $0.0090 as the low of yesterday to $0.0085 in the demand area.
The formation of a bearish inverted pin bar at $0.0090 is an indication that the bears are returning to the market and change the momentum in price of the coin, after which there was a cross over and moved the price down south at $0.0089 in the demand area.
The pressure from the bears dropped the…