WILL VERGE BREAKOUT SOON? VERGE XVG PRICE PREDICTION (TECHNICAL ANALYSIS)

[Music] what is up guys is the old life back again with another video and today guys we’re just gonna give you a quick update on Burge and some potential price predictions so a quick note if you guys are new to the channel definitely hit that subscribe button for more cryptocurrency videos and let’s get started so I currently here we’re on Cornmarket capcom looking at Burge currently trading around 16 cents up 6% today market caps around 2.3 billion and the volume is around 150 million dollars as you can see here we’ll go to the main page here for the market cap you know there was a sea of red the other day but all coins seem to be rebounding today a lot of them are up today as you can see here definitely some greens today you can see Stellar’s up es is up there he theorem had an amazing run wasn’t really affected by the Bitcoin a little flash crash they had there with the rumors from Korea but um you know today the all corn market looks pretty good looks like a good rebound today so you know we’re gonna jump into the technical analysis here for Birch on trading view so as you can see here we’re creating this symmetrical triangle pattern here on the day trial which is pretty pretty amazing right there as you guys can see here we’ve been consolidating sideways here for the past three weeks at at the moment there so that looks pretty good there on the day chart we’ll zoom in a little bit here probably on the will check out the hour chart at the moment so right there on the hour chart as you can see here I was doing my just a little bit on the two hour so on the 2 hour chart here you can see the symmetrical triangle formation forming here right there it will draw the bottom of that so right here Treach it all out so right there as you can see here three touches on the top of the resistance there one two and three we have you know three touches here in the bottom as well yesterday I was watching this and was wondering if this was going to fall down on the third touch here on the support level because you know one of these has to fall either either runs to the upside or runs to the downside here but it’s you know it’s starting to to curve towards the upside here and start to test that resistance level here somewhere in this particular region here in the next couple of days we’re gonna see we’re gonna wait and see if this holds true here and doesn’t fall towards the downside for poor verbs in the upcoming future as you can see here we’ll you know welcome to the day chart the momentum is now slowing down here but starting to build up the RSI is starting to turn sideways at the moment staying around the you know 50 to 60 our side range here we’ll zoom in on the one-hour chart really quick let’s see here so right here on the one-hour chart as you can see momentum is building up on the one-hour chart on this is on this of castex our size starting to trend upward here around the 50 to 60 range we’re gonna look for it to test the 70 to 90 rancher in the near future the trend is definitely up at the moment here we’re gonna look for a quick spike up towards this upside here and then your future to see if it’s gonna test that an upside and turn for a breakout there and then your future but you always have to keep in mind will this fall towards the fall through support level here and you know start to trend downward towards the the 800 satoshis there at the moment there so as you can see you know we’ll zoom out on the four-hour time frame you know you always want to take the height of the triangle and that’s gonna be your projected price target there and the near future we’ll move this over here quick so let’s say it broke out here in the near future your potential price target would be around twenty two thousand five hundred Satoshi is there for the next target if we were to break out here in the near future but berge has been consolidating here in this symmetrical triangle pattern for right around three weeks at the moment so the longer this consolidates sideways the stronger the breakout is going to be so we have right here as you can see here on trading view lasts had this amazing run here around the December 21st range and right now it’s currently the 12th of January so you know it’s gonna take a couple more days here for this to probably break out if it does trend towards this direction but always keep in mind you’re gonna wait and see the support line holds and if it doesn’t hold then you’re gonna have to do it uh we’re gonna have to reevaluate the trend there at the and then trade accordingly but a lot of people are watching this a lot of people see symmetrical triangle they’re seeing break a career and then your future hopefully there’s enough bulls to out there to beat the Bears and definitely push this towards the breakout there as you can see we’re gonna have a target roughly around 2500 stats in the upcoming future possibly you know possibly we could hit it this month if it does turn upward we’re gonna see if this breaks this 50 ma line here then your future and definitely holds that and starts to turn upward here in the next couple of days so we’re just want to look out for guys definitely keep an eye on Burge let me know guys what do you think verge will be at the end of the month if you guys are definitely new to this channel hit that subscribe button and I’ll see you guys in the next one

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