Wow. Holy cow. Guys, this may be my longest post of the day. SO MANY things to say here.
First off, we all know how much of a pain in the ass Verge is. But MAN will it be worth it. Many people have lost money on this coin, but guys I'm pretty confident that it will come back. It's just a matter of time.
So what I did here was just take the log perspective of Verge's wave count through the weekly chart. And I am AMAZED. This is truly nuts. If we look here, this is a pretty easy wave count. We see that Verge is actually "channeling" logarithmically and following these trend lines pretty nicely. We're reaching certain levels in on RSI where we have an immense amount of support. And even though we could potentially correct for a few more weeks, what we have in store is going to be crazy.
So we see our support levels and zones on RSI , but notice the bullishness in weekly volume . Such a beautiful downtrend. But with the decrease in volume , it shows that there is really no fundamental catalyst continuing to drive down the price. It's simply just taking a break!
So, I believe we are still on wave 3 here for Verge. And the green lines are our targets. The crazy part is how the top of the trend line would take us near the $1.22 target that a placed on the last Verge post, from doing some crazy Lumen slope extrapolation thing (I may copy it onto this post just so you all see what I'm talking about).
Lets also take a look at the 21 Weekly EMA . All we're doing is bouncing off of that, like we have in the past! This reminds me SO MUCH of Cardano and Lumen guys i tell you!! Do NOT be surprised if Verge gets over $1. I think what we may see here is a target of $1.18 and then a pretty drastic drop to either the target 1 or target 2 line. From there we could possibly correct for months until we reach this support line. Is $3 possible for Verge? Maybe in 2019!
Even with the price being so low, I'm really excited. Everything that I've seen being possible with this coin is STILL possible. Only the more that I look at these charts and study them differently, the more confirmation that I get. A few more updates to come with what is going on in the short-term. I think our correction is nearly done!
Reminder, this is a weekly chart. These targets most certainly won't happen over night.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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