Market Overview for Verge/Tether (XVGUSDT) – 2025-09-24

• Price traded between $0.0052 and $0.005389 with bearish bias in late session
• High volume activity observed during early morning and midday
• Momentum diverged from price during late ET hours
• Key support near $0.005242 and resistance at $0.005326 identified
• Volatility increased during midday before consolidating near the close

Verge/Tether (XVGUSDT) opened at $0.005339 on 2025-09-23 at 12:00 ET and closed at $0.00531 at 12:00 ET on 2025-09-24. The 24-hour range was $0.0052 to $0.005389. Total volume was ~93.6 million XVG, with a notional turnover of ~$513,429. Price action saw strong bearish pressure in the early hours of the session, followed by consolidation in the afternoon.

Structure & Formations

Price action showed a bearish continuation with key resistance at $0.005326 and support at $0.005242. A bearish engulfing pattern formed during the early morning hours, which was followed by a consolidation phase. A doji formed near $0.005285 in the afternoon, signaling indecision. The price may continue to consolidate within the $0.005242–$0.005326 range before attempting a breakout.

Moving Averages

The 15-minute 20SMA (simple moving average) and 50SMA showed a bearish crossover, confirming the short-term bearish bias. On the daily chart, the 50DMA (daily moving average) is above the 100DMA, while the 200DMA acts as a medium-term support. The price remains below all key moving averages, suggesting continued bearish momentum.

MACD & RSI

MACD remained negative with bearish divergence, confirming the downward bias. RSI dipped below 40 during the session, indicating oversold conditions. However, the RSI failed to move above 50, suggesting that momentum remains on the bearish side.

Bollinger Bands

Bollinger Bands showed a widening range during the morning session, indicating increased volatility. Price traded near the lower band throughout most of the session, especially during the early morning and midday hours. A consolidation phase in the afternoon saw price hovering near the middle band.

Volume & Turnover

Volume surged in the early hours and midday, confirming the bearish pressure. However, price failed to follow through with a significant break below key support levels. Notional turnover spiked during the morning and early afternoon, aligning with the price drop. No significant divergence was observed between price and volume, suggesting that the bearish bias is still valid.

Fibonacci Retracements

Key Fibonacci levels from the recent swing high at $0.005389 to the low at $0.005242 include 38.2% at $0.005312 and 61.8% at $0.005285. Price found support at the 61.8% level before moving higher during the afternoon. Further movement above $0.005312 could trigger a test of the 38.2% level in the next 24 hours.

Backtest Hypothesis

A backtesting strategy that utilizes the 50SMA and 200DMA as crossover signals, combined with RSI divergence and volume confirmation, may offer a robust entry strategy for XVGUSDT. A short signal could be triggered when price closes below the 50SMA, RSI drops below 50, and volume confirms the move. A stop-loss at the 20SMA or near the nearest support level may protect against false breakouts. This approach aligns with the observed bearish momentum and could be refined using historical data for accuracy.