#VERGE
Based on the current chart structure, we can identify a major support zone at 0.001770, where price has previously experienced strong rebounds. This reinforces the technical significance of this level, making it a key area for supporting the current price action.
On the other hand, a major resistance zone is forming at 0.002300, where price has previously faced significant selling pressure and reversed downward. This makes it the primary upside target if price successfully rebounds from the current support zone.
The bullish scenario is further supported by the Relative Strength Index (RSI), which has reached the oversold territory near the 30 level. This may indicate weakening selling pressure and the potential for an upcoming bullish reversal.
If price successfully holds above the 0.001770 support zone and begins showing positive reversal signals, we could see an upward move targeting the resistance zone at 0.002300.
Key Condition
The bullish scenario remains conditional on price maintaining support above the key support zone. A breakdown below this level could weaken the positive outlook and require a reassessment of the technical structure.
HOLO is approaching an important technical area that could serve as a potential launching point for a bullish rebound. The significance of the current support zone, combined with the RSI reaching oversold territory, supports the possibility of an upward move, with 0.002300 as the primary upside target, provided that the rebound is confirmed
#XVG/USDT