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On the downside, a druppel below the ascending trendline would abort the bullish view, while a pauze below $0.032 (March 30 low) would waterput the bears back ter the driving seat.

Privacy-focused cryptocurrency brink (XVG) has bot ter the news for all the wrong reasons te the last 24 hours, but the technical charts indicate better times may lie ahead.

Notably, the edge chain wasgoed attacked yesterday, with the hacker reportedly making off with $1 million-worth of tokens. The punt wasgoed very first brought to notice by a user named “ocminer” on the Bitcoin Talk forum.

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The edge team acknowledged the attack via Twitter te the afternoon Wednesday, while its primary developer, “DogeDarkDev,” attempted to tranquil market nerves by stating that the team has shoved out a “quick fix” and the team is working on “a entire fresh block verification process”.

However, the quick fix turned out to be a hard fork, spil pointed out by ocminer. That didn’t go down well with the investor community, which called for a rollback to biombo the coins mined during the hack. The developers rejected that idea, however, and attempted to downplay the entire scene by calling it a “petite attack.” The team is scheduled to release the utter fork update today.

Amid the melee, XVG witnessed solid two-way business.

According to Bittrex, the token fell from $0.0722 (05:00 UTC yesterday) to a low of $0.048 (07:00 UTC) today before regaining some poise. Spil of writing, the cryptocurrency is switching forearms at $0.055 – down 13 procent on a 24-hour fundament.

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It is worth noting that prices had leaped to a six-week high of $0.078 on April Three, possibly due to successful crowdfunding campaign and speculation that edge is partnering with a major retailer.

Despite the pullback to $0.048, the short-term outlook remains bullish, spil vanaf the technical studies.

Daily chart

XVG cleared the descending trendline hurdle ter a persuading manner on April 1 and closed well above $0.056 (March 27 high) on April Three, signaling a short-term bullish trend reversal.

The cryptocurrency has established higher lows, spil represented by the ascending trendline and higher highs, spil indicated by a stir above $0.056 on Tuesday. So, XVG looks set to scale the 100-day moving media (Moeder) resistance lined up at $0.0789.

Additionally, the chart shows a “death cross” – a bearish crossover inbetween the 50-day Mamma and the 200-day Mamma. However, the indicator tends to be a lagging indicator and shouldn’t be a cause of concern spil long spil prices hold above the ascending trendline.

The short-term outlook is bullish and XVG will likely test $0.0789 (100-day Mama) ter the next duo of days. A pauze higher would expose $0.Ten (psychological hurdle) and $0.135 (Jan. 21 high).

On the downside, a druppel below the ascending trendline would abort the bullish view, while a pauze below $0.032 (March 30 low) would waterput the bears back ter the driving seat.

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The leader te blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a rigorous set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests ter cryptocurrencies and blockchain startups.


2 comments on “On the downside, a druppel below the ascending trendline would abort the bullish view, while a pauze below $0.032 (March 30 low) would waterput the bears back ter the driving seat.
  1. Anne Rose on said:

    Not sure how but some one attempting since 6 months to login into my cryptopia account despite i switched password Four times, thank heer email 2FA is activated

  2. Cryptopia has stolen a lotsbestemming of money from random users and now they are continuously delisting coins that you cannot withdraw for one reason or another. They are a bunch of scammers that execute it leisurely which te the end finishes up being even more profitable. Attempting to get far away spil soon spil I can.

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