Verge (XVG) Faces Short-Term Downtrend Amid Heavy Selling Pressure

I'm observing that Verge (XVG) is currently experiencing a significant selling pressure, with a volume of 56.20K USDT over just 38 seconds. The sell volume dominates with an 84% share, equating to approximately 47.17K USDT, while the buy volume is only 16%, around 9.03K USDT. The current price has slightly decreased from 0.00734 to 0.007319, reflecting a 0.3% decline. In the past 24 hours, there's been a notable 11.856% increase in price, but within the last 4 hours, the price has dropped by 2.13%, and in the last 15 minutes, it has fallen by 0.75%. The 24-hour trading volume totals about 4.404 million USDT, with buy and sell volumes evenly split, each accounting for roughly 50%. However, traders are currently net negative, with 15-minute and 1-hour net volumes decreasing by 34% and 44%, respectively, indicating increased selling pressure. These signals suggest a short-term bearish sentiment developing for XVG, particularly with the recent surge in sell volume and downward price movement. The decline in net volume over recent timeframes further confirms this trend, and caution should be exercised if considering long positions at this point.