The Verge price is up by more than 12%, becoming one of the best-performing cryptocurrencies today. XVG is trading at $0.0652, which is 40% above its lowest level on Sunday. It is still about 20% below its all-time high of $0.0795.
What is Verge?
Verge is a cryptocurrency project that is built upon the technology that built Bitcoin. The currency offers several advantages over Bitcoin. It is fast, has low fees, and us supported by many platforms. It incorporates several technologies like TOR IP obsification, multi-algorithmic mining, atomic swaps, and dual-key stealth addressing, among others. Today, Verge is accepted by several companies, including Pornhub, Nutaku, Brazzers, and TrafficJunky, among others.
The Verge coin has been in a strong upward trend lately. In the past seven days, the Verge price has risen by more than 32% even as other currencies have retreated. This year alone, it has surged by more than 800%. It has also rallied by more than 5,000% from the lowest level in 2020. This has brought its total market cap to more than $981 million, making it the 100th biggest cryptocurrency.
The daily chart shows that the Verge price has been in a strong upward momentum. It has formed an ascending channel that is shown in red. It is now slightly below the upper side of this channel. Also, the price is being supported by the 25-day and 15-day moving averages. The Relative Strength Index (RSI) has also continued to rally. Therefore, in my view, the XVG price will likely continue rising as bulls target the next key resistance at $0.10. However, a drop below $0.48 will invalidate this trend.
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