Voyager token is a cryptocurrency that for a week has been gaining ground in the crypto space while BTC and the main cryptos remain bearish. To get an idea of what happened, we note that the price of its native currency soared more than 80% in a matter of 7 days; going from $ 2.70 to register a new ATH at $ 5.21.
At the beginning of this article, the price of the VGX token, is trading exactly $ 4.90 and records a gain in the last 24 hours of 5.05% according to CoinMarketCap. In addition, a gain in the last 7 days of 80.26%.
Fundamentals benefited Voyager token
During the last week, the native token of the exchange platform, Voyager, was listed in 2 major exchanges; a fact that exposed the cryptocurrency to a new and broad group of investors; which is translated as an increase in daily transactions with the currency in question.
Even, given the event, the CEO of Voyager quoted some words, which were:
Including the Voyager (VGX) token in Coinbase Pro provides greater access to the token and introduces VGX to a wider audience globally.
Steve Ehrlich, CEO and Co-Founder of Voyager.
Since that time, which occurred on November 18, the price of the VGX digital asset has skyrocketed from US $ 3 to reach US $ 4 in a matter of hours; a day later, on the 19th, it reached its old ATH at $ 4.46.
However, its last bullish rally occurred on November 22 has been caused by Binance, since they officially commented on their blog that it is now possible to trade with the VGX / USDT pair on the platform. This last event allowed him to register a new ATH, reaching the all-time high of $ 5.21.
Token technical analysis
In the 4-hour time frame, the high volume of purchases made by investors can be seen after the integration in both exchanges mentioned: Binance and Coinbase.
Clearly, those who invested when VGX was listed on Coinbase, right now must be preparing to take profit from the second wave of investors that bought when the coin was integrated into Binance.
VGX analysis in the 4 hour time frame. Source: TradingView.
In the above chart, you can notice the purchases, and the current position of the RSI; which suggests that the asset is overbought, and that there will surely be a short-term correction. In addition, Japanese candles are also outside the ENV channels; confirming once again the possible profit taking of investors.
It should be noted that considering the current panorama in the price action of VGX, we must be attentive to the following supports:
The information in this content should be taken for informational purposes only, not intending under any point of view to urge the purchase / sale of financial assets.