Verge is a cryptocurrency that aims to keep transactions untraceable and anonymous. This privacy-focused cryptocurrency comes with a fast confirmation time for transactions. However, the project is open-source, and there is no network or foundation behind Verge. The community is committed to the decentralization of payments and their privacy.
It started its journey in 2014 as Dogecoin Dark but later rebranded as Verge. It aims to become the top privacy coin. We transfer files and documents through an internet service provider; they facilitate the message, file, and records and provide a unique identifier known as an IP address. If necessary, they can route the message using the IP address. This process is not anonymous. Here, Verge uses two approaches, I2P and Tor, to keep the connections anonymous.
It uses the Electrum wallet that supports the two approaches. When you need to send the Verge token XVG, you need to sign a transaction with the private offline key (it allows secure offline storage). After signing, you can send the transaction online using a device that does not have access to your private keys. You can increase security using the facilities of multi-signature and key recovery options. It is currently in the top 30 cryptocurrencies and listed in major exchanges, including Bittrex and Finance.
The above XVG price chart reflects bearishness. At the time of writing this analysis, the price of Verge cryptocurrency is at the support level of $0.013. If it breaks the level, then it is hard to mark the next support level. However, if it changes its momentum and rises, it may face a resistance level of around $0.016. On the daily chart, RSI is in the oversold zone below 35, the MACD chart is neutral, which signifies a bearish sign. The candlesticks are forming in the lower half of the Bollinger Band, which is also a bearish sign.
Overall, it consolidates in a range and does not show truly bullish momentum. We do not think it is the right time to invest in the XVG coin. Still, the crypto market is in an early stage, so it would be hard to decide the actual price.
