The Voyager Token price is crawling back after tumbling to the lowest level since November 17th. The VGX token is trading at $3.28, which is about 43% below its highest level this year. According to CoinMarketCap, VGX has a market capitalization of about $913 million making it the 96th biggest cryptocurrency in the world. CoinGecko has a question mark on its market cap.
Voyager is a Canadian publicly-traded company that offers a number of services. Its app has features that enable customers to buy and sell cryptocurrencies. Also, the company has features that enable customers to earn up to 12% in interest. It also has a Voyager debit card that people can use to spend their cryptocurrencies.
The Voyager Token is the native token for the platform. Holders of the token have several benefits. For example, they earn more rewards than those who have other cryptocurrencies. Users can also earn about 7% by staking their Voyager token. Also, people who refer customers to the Voyager platform make money using the token.
The four-hour chart shows that the VGX price formed a double-top pattern at about $5.48 between November and the first week of December. In price action analysis, this pattern is usually a bearish sign. The chin of this pattern was at $3.53.
A closer look at the recent price action means that the coin is forming a break and retest pattern. This is where the coin has retested an important support or resistance level. Therefore, there is a likelihood that the coin will resume the bearish trend, with the next key support level being at $2.2. This view will be invalidated if the price moves above the key resistance at $4.
This post was last modified on Dec 17, 2021, 06:24 GMT 06:24