Verge, Bitcoin Gold and Leo: Don’t look down; altcoins look up and sideways

With the collective cryptocurrency market trading flat as Bitcoin hovers between $6,000 to $6,500, altcoins have seen divergent movement. Bitcoin Gold, Verge and LEO, are, despite bearish tendencies, holding strong, trading within their respective channels, verging on momentum to rise.


Source: LEO/USD via Trading View

Leo, the Bitfinex token, is currently occupying the eleventh spot on the coin market, trading with a press time price of $1.01, as part of a massive upward stint since the beginning of the year. The token began the year at $0.8, and was largely unfazed by Bitcoin’s push-and-pull.

Owing to the same, the cryptocurrency finds support at $0.79, and $0.94. Looking upwards, the cryptocurrency is trading closely with the resistance at $1.03 within the upward channel which, on the 1-day chart, began well before 2020.

Bollinger Bands indicated a massive increase in volatility, the highest since mid-February, with imminent swings in the future. The average of the bands is below $1, hence the coin is in the clear for now.

Bitcoin Gold 

Source: BTG/USD via Trading View

The namesake to Bitcoin which suffered a 51 percent attack in January, was hit hard with the March 12 drop losing over 42 percent of its value, dropping from $9.21 to $5.17 within a day. However, since then, Bitcoin Gold has been trading within an upward channel.

While the channel is tight, short-lived and almost parallel, the formation of lower lows and relatively closer highs are indicative of an upward movement. The most immediate resistance is at $7.76, while the channel’s lower bound is at $6.85 with the price hovering close at $6.98.

MACD line indicated a reversal as the signal line has dipped below and is now heading close to turn positive. If this trend continues, the MACD line will move over 0 for the first time since mid-February.


Source: XVG/USD via Trading View

While the aforementioned altcoins are trading upward, on a marginal basis albeit, Verge is…

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