Verge Investors Are Disappointed

Verge has formed a double top at USD 0.008, after which it broke below the 200 Moving Average, suggesting that the uptrend is very likely to change to a downtrend.

After breaking below the 200 MA, Verge corrected back and currently 200 MA acting as a resistance that has been rejected throughout the last week.

While VERGE/USD producing lower lows and lower highs, the tendency has a high probability to continue where it could test one of the Fibonacci support levels, either 327.2% (USD 0.0035) or 427.2% (USD 0.0025).

Only break above the 200 Moving Average could invalidate the downtrend and change the direction of Verge.



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