Verge (XVG), IOStoken (IOST) and IOTA (MIOTA) Price Technical Analysis: Cryptos Ignore the Bear Wave in the Market

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Verge (XVG) price is defying the bearish wave in the cryptocurrency market to record gains of 4.99% in the last 24 hours. The recent declines failed to find support above $0.07 level, which paved the way for more downside corrections. However, XVG/USD was supported above $0.068 level before bouncing to retrace its steps upwards.

Verge (XVG) has been catching the attention of many cryptocurrency investors and enthusiasts alike, especially after the partnership with Mindgeek last month. This partnership has made Verge the talk of the town, at the same time, it has opened verge to the larger cryptocurrency community and other industries seeking digital payment solutions. After Pornhub partnership, Verge is celebrating another partnership with TrafficJunky. It is a network that assists its users to market their businesses and they are by far the best recording over 1 billion impressions daily. TrafficJunky will be accepting Verge payments on their website.

Verge price is currently trading an inverse neck-and-shoulder pattern, while the price is dancing with $0.077 as it finishes the second shoulder. XVG/USD has broken above the 23.6% Fib retracement level with the previous swing high of $0.078 and a low $0.069. The buyers are looking forward to $0.08, but they must clear the resistance at $0.078. On the downside, an immediate support is at $0.076. However, if the sellers push for further declines, XVG/USD will be supported at $0.074 (50% Fibo) and $0.070 levels respectively.

IOStoken (IOST) Price Analysis

IOStoken price is trading within an ascending channel on the 15’ intraday chart. The digital asset is correcting higher as well, it is up 4.10% in the last 24 hours. The upside movement was started around 0.000075ETH where further upside momentum breached several resistance areas including 0.00008ETH, 0.000085ETH and traded above 0.000095ETH.

IOST/ETH faced resistance above 0.000095ETH leading to lower correction which was supported in time by the bullish trend line on the same chart above 0.000085ETH. IOStoken price also defied the bear momentum in the entire market breaking above 0.00009ETH. The price has tested the resistance level at 0.000095ETH several times for two days in a row.

At the moment, the IOStoken price is flirting with 0.000093, while a bullish momentum is forming, besides, the MACD is moving further into the positive region. On the downside, the 100 SMA is supporting the price, although a stronger support is at 0.00009ETH. IOST/ETH should trade above this level all through to the end of trading on Wednesday 9, failure to which 0.000085ETH will also offer support to prevent further declines.

IOTA (MIOTA) Price Analysis

IOTA (MIOTA) price, on the other hand, is down over 3% while it has broken out of the descending channel on the 1-hour timeframe chart. The cryptocurrency was trading in the green during the Asian trading hours and even breached the resistance level at $2.5. MIOTA/USD has, however, been nursing declines just like the majority of assets in the market.

The level at $2.4 could not support the price in the declines that happen earlier today, although $2.2 came in handy to prevent further lower corrections. Currently, MIOTA/USD is trading at $2.34, while the immediate support is provided by the 50 SMA. Below this level, the next target is $2.3, while $2.2 and $2.1 are important support zones to this cryptocurrency. The bulls are eyeing $2.5 to the upside, but they will have to go through the resistance at $2.4. IOTA price is avoiding major movements, similarly, the RSI (at 50 mark) is ranging.


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