Is Verge (XVG) Heading the Right Direction Friday?

Friday, March 29, 2024 08:03 AM | InvestorsObserver Analysts

Verge receives a weak short-term technical score of 29 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the coin by looking at the price movement to determine if it is trending in the right direction. XVG holds a better recent technical analysis than 29% of coins at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

InvestorsObserver is giving Verge a 29 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Verge!

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Trading Analysis

XVG is currently $0.001881 (39.11%) above its 30-day low of $0.004810057 and -$0.001789 (-21.10%) below its 30-day high of $0.00848018. Additionally, XVG is above its average price of $0.006173952 over the past month of trading with its current price of $0.006691041. Overall, the recent trading history of Verge suggest that traders are currently bearish on the coin. Verge's market cap of $110,549,055.41 is relatively average for a coin. The market valuation for Verge is relatively average due to the largest 100 cryptos having a market cap above $1 billion and XVG sits underneath that mark but remains above $100 million in market capilization. Meanwhile, XVG's average volume is average with $49,640,052.79 worth of the coin traded over an average 24 hour period. The volume for XVG is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the last 24 hours, XVG's volume is below its usual with $6,650,079.57 exchanged. Verge's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Verge's price movement over the past month has led to a a weak short-term technical score due to recent trading giving more bearish signals for traders on the coin's short-term movement. Click Here to get the full Report on Verge (XVG).