Verge price Surges 10% Following Privacy Crypto Boom – Can It Hit $0.02 Next?

Highlights:

• XVG saw a 783% spike in trading volume, reaching $142 million in 24 hours.
• Verge is up 10% in the last day and 90.7% over the past month.
• Built on Bitcoin’s foundation with tools like Tor and VergePay for anonymous transactions.

The Verge price has surged 10% in the last 24 hours to trade at $0.014 as of 5 a.m. EST, riding on a 783% pump in trading volume to $142 million. The growing adoption of privacy-oriented cryptocurrencies has fueled the price surge. The token maintains its position at $0.013, up 27% in the last 24 hours and 90.7% in the last month.

XVG has grown 238% year-to-date and has more than $215 million in market capitalisation. Verge boasts a blockchain built on the foundation of Bitcoin with a privacy-centric perspective. It integrates tools like Tor and VergePay for anonymous transactions.

Founded in 2014 under the name DogeCoin Dark and rebranded in 2016, Verge is positioning itself to compete against other privacy coins, such as Monero and Zcash. Its focus on privacy and innovation continues to strengthen its position in the crypto market.

XVG Statistics

• Verge price: $0.014
• Market capitalization: $204 million
• Trading volume: $142 million
• Circulating supply: 16.5 billion
• Total supply: 16.5 billion

Verge Price Gears for Another Bullish Leg-Up

The chart presents the XVG/USDT, moving at $0.012273, a loss of 7.59% in the last few hours. The RSI at 50.80 depicts neutral momentum; hence, the market might go either way depending on future sentiment combined with trading volume. Meanwhile, the RSI is standing a little below the signal line at 54.75, which depicts consolidation or mild bearish pressure in the short run.

Key support levels include $0.009395, the 200-day SMA, and very important long-term support, which has been a solid floor for price bounces in the past. Another important support zone is $0.005324, which was the base upon which Verge rallied in November. On the resistance front, the $0.015000-$0.020000 range is identified as the retest zone where rejection has been witnessed in the past. If the price can breach this region, then the next important resistance lies at $0.025000.

Moving averages show indecision. While the 50-day SMA $0.013282 currently provides dynamic support, trading is below this, reflecting bearish pressure in the short term. However, the 50-day SMA has already seen an upside divergence with respect to the 200-day one, which says that the longer trend remains upward. Furthermore, price action depicts a rounded bottom formation. That implies a switch toward a new uptrend could well begin after the pullback just ended.

In a bullish case, if the verge happens to keep support above $0.012000-$0.009395, then it can make an upward movement to retest $0.015000-$0.020000. A successful break above $0.020000 could open the way for a rally towards $0.025000 and higher. Conversely, its inability to hold support around $0.009395 could drop it towards its key zone of support at $0.005324, thereby reversing the bearish trend. At this moment in time, Verge seems to consolidate while key levels define the subsequent move in this market.