Verge (XVG) is backtracking, erasing more than 15% of its price on Tuesday. XVG fell to $0.004, moving away from a recent spike.
The Verge market price sank significantly on Tuesday, despite the still expected scheduled hard fork. The asset sank after a week of hiking higher, moving up by as much as 30% on a weekly basis.
The sharp decline, however, matched the downturn in the entire market, as Bitcoin (BTC) also looked shaky. XVG traded around 57 Satoshi, as most of its valuation hinges on the price of BTC.
A very good buy opportunity for #xvg Verge.
Verge just retraced from its recent +40%.
it just bounced at 55sats on it’s Daily moving average 25 that acted as very strong support since mid-November.
Chance are that XVG will retest 71 sats (+30%) in the next few days. Easy buy!
— Tonton Lowan XVG (@vergeliever) December 10, 2019
The price of XVG is seen as a short-term speculation opportunity as it hovers near rock-bottom prices. The recently announced hard fork had only a temporary effect on the price. The recent sell-off may…