With all this uncertainty, signals are at a much lower rate than usual, and it's true for all traders, as we are waiting to see what will happen with the market.
I have been asked to do this TA on XVG. The thing is, this one is very hard, so I will try to analyze it part by part.
Why is it so tricky ?
- Bitcoin is very unstable, and XVG is dependent on it, just like all alts. - XVG seems to have floored and have stabilized around 600 sats, so we can presume it's going up if we look at the 30 minutes / 1 hour chart. However, if we look at the daily, it's still not looking very good. - Indicators are in a very neutral zone
I drew 2 scenarios:
1) if we go up and break the downtrend line, correction is over. 2) If we break the floor and go down, we're going down towards my orange resistance line.
Actions recommended : - Wait for the market to develop this week