Technical analysis by Burtoshi about Symbol XVG: Buy recommendation (23 hour ago)

Summary: Verge (XVG) has spent nearly 7 years forming a massive symmetrical triangle on the 1-Month timeframe, compressing between a long-term ascending trendline dating back to 2015 and a multi-cycle descending resistance from the 2017 blow-off top. With privacy coins regaining momentum over the past two months, XVG is approaching a structural apex that historically precedes large expansions in this asset class. Price is currently sitting just above the long-term trendline and pressing into tightening monthly range highs, with both EMAs flattening — a sign of equilibrium before resolution. 📌 Technical Breakdown 1. Multi-Year Symmetrical Triangle Ascending support holds strong since 2015, tested numerous times. Descending macro resistance from 2017 ATH keeps price capped. Price is now near the apex, where long-term compression typically breaks with force. 2. Monthly EMAs Converging 35 EMA and 205 EMA are flattening, reflecting equilibrium. This usually occurs before a macro trend shift. Reclaiming the 35 EMA on the 1M would be the first sign of trend strength. 3. Privacy Coin Narrative Strengthening Over the past 2 months, several privacy-focused assets have shown strong relative performance amid: Regulatory debates Increasing interest in anonymity-preserving tech Capital rotation into older privacy brands XVG historically benefits from these narrative cycles. 4. Key Levels on the Chart Immediate Resistance: 0.0080–0.0082 Macro Breakout Level: Descending trendline (currently just above price) Structural Target if Broken: 0.026–0.03 Ultimate Macro Target: 0.264 (top of chart’s marked level) Major Support: Long-term ascending trendline 📈 Bullish Scenario If XVG breaks above the descending trendline on a monthly close, it would mark the first macro breakout in years. This could align with ongoing privacy sector strength. Upside targets: 0.0080 → first major test 0.026–0.03 → measured move from the triangle structure 0.264 → long-term supply zone (multi-cycle level) Given the size of the pattern, a breakout move could be significant. 📉 Bearish Scenario Failure to hold the ascending trendline could trigger a retest of mid-range supports or invalidate the long-term structure. This would occur if price closes firmly below the rising 10-year trendline. 📊 Final Takeaway XVG is entering the most important point of its multi-year consolidation — the apex of a massive symmetrical triangle. With privacy coins seeing renewed attention, XVG is positioned at a potentially explosive point on the chart. All eyes should be on the monthly close as price tightens into long-term resistance with narrative momentum behind it.