Verge XVG, Ripple XRP and EOS Price Technical Analysis: Verge Price Tanks in the Wake of Pornhub Partnership – Crypto Recorder
Verge XVG Price Tanks in the Wake of Pornhub Partnership: Ripple XRP and EOS Price Technical Analysis
Verge XVG Price Analysis
Verge XVG price is correcting lower on Tuesday after the announcement that is partnering with one of the world’s largest porn sites, Pornhub to usher in a new method of payment on the website. XVG/USD is down over 3% in the last 24 hours, although it is currently correcting higher towards $0.085.
There was an upside momentum that started close to $0.1, where Verge price recoiled higher on the 30’ intraday chart. The price even traded above $0.115 but faced growing selling pressure that opened the gate for declines. XVG/USD failed to find support at $0.1 while the 61.8% Fib retracement level with the previous swing high of $0.115 and a $0.08 low could not hold ground as well.
The crypto sharply descended and cancelled the gains that had been made in the previous trading sessions. Significantly, a support was found at $0.072 before the price bounced to start correcting higher. The 100 SMA will offer resistance as the MACD signals that the path of least resistance is to the upside.
Ripple (XRP) Price Analysis
Ripple XRP price, on the other hand, is consolidating in a fairly quiet cryptocurrency market. There are no major movements. XRP/USD is a sitting duck waiting for either the buyers or the sellers to attack. Ripple is trading within an ascending wedge pattern on the hourly chart but the upside is capped below $0.7 level.
There was an upside momentum that was started above $0.6, the Bulls battled to break above the coveted $0.7, however, selling pressure prevented further gains above $0.69 leading to a downside correction. The price found a support close to $0.6, but at the moment, XRP/USD is testing the resistance level at $0.68 as it attempts to retrace higher.
On the downside, Ripple will find a short-term support at $0.66. Similarly, the 100 Simple Moving Average will stop further declines below the weak support above. Most of the other technical indicators, for instance, the RSI and the MACD are ranging. This means that in the near-term Ripple XRP price will consolidate below $0.7. The bulls must gunner support to push the price above this level which could open the door for more gains towards $1.
EOS price analysis
EOS price is up over 12% in the last 24 hours in a crypto market that is rather sleepy. The cryptocurrency is correcting higher and has even broken above $9 level again after last week’s surge. EOS airdrop took place a couple of days ago and probably the traders are still reacting to the event. EOS/USD is trading above the 23.6% Fib retracement level with the previous swing high of $9.3 and a $7.5 low.
Another breakout is on the horizon as the MACD moves into the positive territory to signal that buyers have the upper hand. Similarly, the RSI is pointing toward the overbought regions to confirm the bullish momentum forming at $9.0.
On the downside, the 38.2% Fib retracement level with the previous swing high of $9.3 and a low of $7.5 is the immediate support close to $8.6 while the 100 SMA ($0.85) will also act as a support in the event of a trend reversal. However, the highlighted support at $8.0 level is very significant to EOS/USD as it acts as a dynamic inflexion point.
