XVGUSD confirms ascending channel (Technical Analysis)

Verge/USD pair mantains ascending trajectory with the third re-bounce of the ascending channel line.

Low RSI in low end of the channel giving room for increase.

Movement confirmed if the price can continue above channel line for the next 24 hours.

Stop level between 0.005 - 0.00472 giving a 12%-19% downside vs a short-term target 0.00785 giving a 35% upside.

Kommentera:

H4 Moving Average (42 periods) crossed price - 42 periods represents a 1 trading week for crypto in H4 and has significance in XVG/USD price actions.

Accumulated Distribution with 2 bullish divergences implying volume action is preceding price action.

Possible consolidation ahead between .0079 - .0074