Verge (XVG) Price Analysis And Prediction 2019 – Verge Has One Foot In The Grave (Mid May Update)

Mid May Update: Technicals

XVGBTC daily chart looks anemic as XVG struggles to hold its long-term support zone at around 150 sats, falling back to the current 99 satoshis. Trading volume is feeble and there is almost no buzz around XVG on social media and media outlets in general – all portents of a dying project. As we mentioned it multiple times, 2019 will be the beginning of the purge of nonsensical projects where XVG certainly belongs.

Considering that market is completely focused on bitcoin’s fight with the newly acquired height, altcoins are rotting on the racks and waiting for their season to commence. While that wait goes on, XVG and other altcoins slowly lose value to BTC and go back to their all time lows.

If this suspense of non-bitcoin coins continues, XVG might bleed out dry before market shows any interest in the altcoins.

There is no technical indicator that even hints at potential uptrend reversal while the project suffers of terrible brand presence and weak fundamentals for a long time. Days when a project could pump on irrational shilling on social media are over – lackadaisical developers and sporadic, cosmetic updates to client or wallet interface don’t cut it anymore – nonsensical “conferences” and meetups even less so.

Even the most credulous noobs are more wary of vaporware projects and steer clear of them in 2019. Verge either needs to deliver real, unique value to the market or just dissipate, leaving couple of lucky gamblers who caught its huge pumps back in day happy and a lot of miserable holders who got stuck with worthless bits of data, represented by the soon to be meaningless three letters glimmering on the screen – XVG.

Trading volume is puny – reported volume in the last 24hrs is $3m…

Source Link