SuperRare (RARE) and Verge (XVG) Prices Pumping, but Key Resistances Could Shorten the Move: Watch These Levels
SuperRare (RARE) has spiked by 25%, while Verge (XVG) has witnessed a 10% surge. These price pumps indicate signs of continuous upward momentum, but key resistance levels stand as potential hurdles for further gains.
While the rallies are undoubtedly encouraging for investors, it is crucial to note the critical price points that could potentially shorten these moves. As these cryptocurrencies approach key resistance zones, investors must remain vigilant and aware of the potential implications for their positions.
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SuperRare (RARE) Witnesses 25% Spike
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SuperRare is the leading curated marketplace for on-chain art, boasting over $300 million in total sales and $180 million earned by artists. As one of the earliest advocates for perpetual artist royalties, SuperRare is working to improve discovery while decentralizing the art market.
The RARE/USD pair has recently broken out of a descending channel, fueling a bullish drive that has propelled the price upward by more than 25% today alone. Currently facing resistance around $0.16, a successful breakout above this level could potentially push the price towards $0.2. However, if the resistance at $0.16 holds firm, a retest around $0.12 may be on the cards.
Verge (XVG) Aims to Break Resistance
Verge is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralized payments network, improving upon the original Bitcoin (BTC) blockchain.
The Verge (XVG) price has also experienced an upward move but remains constrained by a strong resistance level. This resistance has been limiting price appreciation since mid-April, and this would mark the fourth attempt to break through it. The previous three attempts were unsuccessful. If the price can manage to surpass $0.0065, it is expected to spike by at least 30% before encountering the next major resistance level.
Investors seeking to capitalize on short-term opportunities should exercise patience and wait for a confirmed breakout before taking any significant positions.
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