Market Overview for Verge/Tether (XVGUSDT) on 2025-11-06

Summary
• Price declined from 0.008275 to 0.007705 amid increasing bearish momentum.
• RSI dropped below 30, indicating oversold conditions.
• Volume surged near the 0.0083–0.0084 resistance zone before reversing.

Verge/Tether (XVGUSDT) opened at 0.007934 on 2025-11-05 at 17:00 ET, reached a high of 0.0084, fell to a low of 0.007509, and closed at 0.007705 at 12:00 ET on 2025-11-06. The 24-hour notional volume was $2.44 billion, and total turnover amounted to 318,040,986 XVG.

The price action revealed a bearish trend, particularly after 2025-11-06 05:45 ET when a sharp breakdown occurred from the 0.0080–0.0081 resistance range, sending price to 0.007509. A key bearish engulfing pattern formed around 0.008032, confirming the shift in sentiment. Notable support levels emerged at 0.0079 and 0.0077, with a possible breakdown below 0.0076 expected to intensify the downtrend.

The 15-minute chart showed the 20-period EMA dipping below the 50-period EMA, suggesting a bearish crossover. The 50-period MA on the daily chart crossed below the 200-period MA, reinforcing a broader bearish bias. RSI, now in the 30–40 range, hints at a potential rebound but with limited conviction. MACD remained negative, with bearish momentum accelerating toward the close.

Volatility expanded significantly as Bollinger Bands widened after the breakdown, and price traded near the lower band for most of the session. Notional turnover spiked during the breakdown at 0.008032, confirming bearish conviction. Divergences between volume and price movement were minimal, but a volume spike at 0.008032 marked a key turning point.

The most recent 15-minute swing from 0.0084 to 0.007509 shows 61.8% retracement at 0.00786 and 38.2% at 0.00803. A break below 0.0075 could see price testing the 0.0074 level, aligning with Fibonacci extensions.

Backtest Hypothesis
The breakdown from 0.008032 and the bearish engulfing pattern suggest a possible short entry near 0.0077 with a stop above 0.00805. To backtest this strategy, precise historical data for XVGUSDT is required. If the symbol or data source remains an issue, an alternative data file or proxy pair could be used to validate the pattern’s predictive accuracy.