XVG/USD XVGUSD -- on the Verge of bottoming, one more squiggle lower to 0.04 possible

Verge with price trading symbol XVG is a favorite of many.

It peaked on April 17th 2018, after a one month run up in price from March 18th, 2018 and has since then been going essentially sideways.

Here is what I am seeing on the charts.

3 hr chart

XVGUSD - Primary Analysis - May-13 1514 PM (3 hour).png

Zoom into a 1 hr chart

XVGUSD - Primary Analysis - May-13 1508 PM (1 hour).png

The sideways nature of corrective price action ongoing for close to a month (May 17th) with price already touching the 50% retrace and with there being enough waves for wave C indicates to me that the bottom could already be in. For confirmation of the bottom being in, the price has to rise above 0.07 from here! If the price starts heading down from this level, this could still be a 4rth wave in the C wave of 2 and so XVG may still see a lower low to touch the 61.8% retrace at 0.04.

Thank you!.png