Verge ($XVG) - Long-term and short-term prediction
cryptocurrency·@cudo·
0.000 HBDVerge ($XVG) - Long-term and short-term prediction
The last couple of months Verge has been one of the most loved and hated coins out there. Some people call it a shitcoin, others truly believe in the power of the cryptocurrency which allows users to switch between anonymous- and open transactions. Reading between the lines you can extract the common consensus that the product works, but their marketing is horrible. The team of developers seems to not really be a team, just some whizkids who are having troubles making deadlines. Tron (TRX) is somehow the opposite of verge, where the marketing is topnotch, the developmentteam is full of mighty names, and the product itself gets a lot of critique. Time to analyze the course of Verge and to see if it will be able to break through the walls of haters and whales, or that it might sink - on the verge of success. <b>Long term</b>  On the long-term chart, you can easily spot the bearish trend. The sphere shows a crucial moment in the coin's history: the release of the wraith protocol. The developers promised that it would be released Q4 2017, but didn't manage to do so until the end of 2017. New years eve was a very tense night, because if Verge failed to release the protocol, it might just drop big time. On the other hand, releasing the wraith protocol would shut all haters' talking and would possibly take verge to the moon. In the end, wraith kind-of got released, piece by piece. This was enough to keep a part of the verge-army in the game, but this was also the last sign many traders needed to step out of the game. This long-term movement is turning into somewhat of a descending triangle, which means that we should really watch the currency when it reaches the end of the triangle. That's the moment to either buy in big time, or run away from it. <b>Short term</b>  On the shorter term, Verge can be a fun coin to do some scalping on: taking small profits, actively stepping in and out. Elliot waves can be seen in some cases, but they're not really clear all the time. So be careful using that for TA. What you can see very clearly, is that Verge loves to bounce. Just draw the support lines, wait for it to get there, and step in. This is not a good thing for the future of Verge, but daytraders do love it for this reason. <b>Conclusion</b> Although you can make some money on the short term, I think it's not the best time to step in for a hodl-strategy. You just can not know if Verge is going to be bullish soon. There's too many bad attention and they seem to be unable to get a proper marketeer on the product. Wait for the triangle to close, and then watch where it goes. If it goes up, people will notice and Verge might reach it's ATH. This will probably be done in elliot waves. If it drops after the triangle, however, Verge will likely be a dot in history which can afterwards be labeled as hypecoin. <b> Thanks for reading! </b> I do not advise, I just explain my view on things. I do not get paid, I do not do sponsorships. If you manage to earn some money based on my words: tips are welcome! <b>Ethereum tips:</b> 0x8f13f7f92d22f5bde07282101a7505df8cb14c85 <b>Verge tips:</b> D9jN4J9Fbn3iBkuAx4WjTAAm1ECNF1GMgv