Voyager Token Defies Market And Pushes Higher While Ethereum And Bitcoin Fall

Voyager (CRYPTO: VGX) is trading higher on Monday, challenging the cryptocurrency market which is trading lower. Typical market leaders Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC) They are dropping and may cause the market to follow.

Voyager symbol, the token from Voyager Digital Limited (OTC: VYGVF), is trading higher with a pattern and pushing higher after the token was recently listed on Coinbase Pro.

Voyager stock is up 29.1% to $4.88 at the time of writing.

See also: Voyager Crypto Review

Voyager daily chart analysis

  • Voyager appears to be trading higher in what technical traders call a cup pattern that pushes higher after forming higher lows.
  • The cup pattern shows that the cryptocurrency was trending lower and eventually managed to settle before reaching higher lows and showing that the trend was able to reverse. If this cup pattern continues to hold as support, the uptrend may continue.
  • The cryptocurrency is trading above the 50-day moving average (in green), which indicates that the recent sentiment has been bullish.
  • The 50-day moving average may hold as a support area in the future.
  • The Relative Strength Index (RSI) has been bullish for the past two weeks and is now at 72. This indicates that the cryptocurrency is now in an overbought range and has much more buying pressure than selling pressure in the market.

What’s next for Voyager?

Bullish traders are looking for the Voyager token to continue rising along the cup pattern. Bulls are looking to continue higher lows and for the RSI to stay higher. If crypto starts to cool off, the bulls would like to see a period of consolidation where the cryptocurrency can hold its gains.

Bearish traders are looking for the stock to drop below the cup pattern and start falling lower. After breaking below the cup pattern, the bears would like to see the RSI drop below the middle line as sellers start to beat the buyers

Leave a Comment