The Voyager Token price has defied the market sentiment and soared to an all-time high. The VGX token has jumped to a high of more than $5, which is about 227% above the lowest level in October this year.
This growth brings its total market capitalization to more than $1.4 billion, according to CoinMarketCap. CoinGecko places a question mark on its market cap figure.
The Voyager Token is the native token for Voyager’s ecosystem. For starters, Voyager is a publicly-traded company based in Canada.
The firm offers a suite of different products like crypto rewards, trading marketplace, and a debit card. The coin’s rally is mostly because it was recently launched in Coinbase Pro, meaning that institutional investors can now trade it.
The VGT price has been in a strong bullish trend in the past few days. The coin’s bullish trend accelerated when it moved above the important resistance level at $3.5292, which was the previous all-time high.
It was also the upper side of the cup and handle pattern. The coin then did a break and retest pattern after it broke out. This is usually a bullish signal. It is now significantly above that support level.
Therefore, there is a likelihood that the Voyager Token price will keep rising as bulls target the next key resistance level at $7. This will happen as the fear of missing out (FOMO) steps in. This price is about 36% above the current level. A drop below $4.5 will invalidate this view.
This post was last modified on Nov 23, 2021, 06:01 GMT 06:01