Market Overview for Verge/Tether (XVGUSDT) on 2025-09-18

• XVG/USDT traded in a bullish consolidation pattern with a 0.47% gain.
• Momentum remains strong on the RSI with no immediate overbought signals.
• Volatility expanded during key resistance breaks, with volume confirming price moves.
• A potential pullback to 0.00597–0.005945 appears likely ahead of further consolidation.

Verge/Tether (XVGUSDT) opened at 0.005697 on 2025-09-17 at 12:00 ET and closed at 0.005996 the following day at 12:00 ET, reaching a high of 0.006066 and a low of 0.005656. Total volume for the 24-hour period was 74,418,946.0, with notional turnover reaching $4,511.50 (assuming $1 = 1 USDT and price-weighted average). Price action displayed a strong breakout and consolidation over the 24 hours, supported by increasing volume and a bullish RSI trend.

Structure & Formations

The price formed a bullish continuation pattern following a brief consolidation in the 0.00566–0.00569 range. A key resistance level emerged at 0.006005, where the asset paused but later breached after a bearish pullback. This breakout suggests increased bullish momentum, with potential support forming at 0.00597–0.005945, marked by multiple retests and bearish rejection patterns. A bullish engulfing pattern emerged at 0.006009–0.006015, confirming the move higher. A doji appeared near 0.005995, hinting at short-term indecision.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed to the upside, forming a golden cross, reinforcing the bullish trend. The 50EMA and 100EMA on the daily chart also aligned in a bullish crossover, while the 200SMA offered a significant long-term support at 0.00593. Prices held above these moving averages, suggesting a strong bullish bias for the next 24 hours.

MACD & RSI

The MACD turned bullish in the latter half of the period, with the histogram turning positive and the line crossing above the signal line. The RSI maintained a strong position in the 50–70 range, indicating rising momentum without showing overbought conditions. While it has not yet breached 70, a potential move toward that level may signal a short-term overbought scenario, warranting caution.

Bollinger Bands

Volatility expanded significantly during the breakout phase, with price moving above the upper band between 0.00603 and 0.006066. The bands were wide during this period, indicating heightened uncertainty and activity. Price later retracted into the middle band, confirming the consolidation phase, with a potential retest of the lower band near 0.005945–0.00597 expected.

Volume & Turnover

Volume spiked during the breakout above 0.006005 and during the consolidation phase between 0.00597–0.005995. Notional turnover also increased, confirming the price action and ruling out a volume divergence. The highest turnover occurred at 0.006056–0.006061, with volumes exceeding 4.9 million, highlighting strong conviction in the bullish move.

Fibonacci Retracements

Applying Fibonacci to the major swing from 0.005656 to 0.006066, the 38.2% retracement level sits at 0.005934, while the 61.8% level is at 0.005815. The current price (0.005996) is near the 23.6% retracement level, suggesting a shallow pullback is possible before the next leg up. A break below 0.005934 would likely confirm a deeper retracement, but for now, the asset appears to be in a strong bullish phase.

Backtest Hypothesis

The backtest strategy involves entering long at the close of a bullish engulfing pattern and exiting upon a 1.5% pullback or a close below the 20SMA. Given the formation of a strong bullish engulfing pattern near 0.006009–0.006015, this strategy appears well-aligned with recent price action. Using the 15-minute timeframe and incorporating RSI as a filter to avoid overbought conditions, this approach may have yielded favorable results during the 2025-09-17 to 2025-09-18 period. A similar strategy could be considered for future entries, provided the pattern and volume confirmations are in place.