Is $2 the Next Price Level?

Please fol­low and like us:
Pin Share

One of the best-per­form­ing cryp­tocur­ren­cies for the past few weeks has been the Voy­ager token, which is cur­rent­ly in a very volatile mar­ket. Today, the Voy­ager token price is down by 6 per cent at press time, an improve­ment from the ear­ly hours of the ses­sion when it was down by as much as 15 per cent. 

Voyager Token Price History

Since August 25, the momen­tum of the Voy­ager token has been very volatile, and in some days, it has end­ed up dou­bling with­in a trad­ing ses­sion. For instance, on August 25, when the cur­rent trend start­ed, the Voy­ager token was at one point trad­ing 67 per cent above its open­ing price. The aggres­sive move would be topped dur­ing the August 26th trad­ing ses­sion, when the val­ue of the token dou­bled dur­ing the ses­sion. By the close of the ses­sion, Voyager’s token price was up by 98 per cent. 

The aggres­sive bull­ish trend was fol­lowed by a hor­i­zon­tal mar­ket which last­ed between August 27 and the start of this week. On Mon­day, the Voy­ager Token surged by 9 per cent, start­ing what is now the sec­ond phase of the aggres­sive bull­ish trend. By Tues­day, the volatil­i­ty had mul­ti­plied three folds, and Voy­ager closed the mar­kets up 30 per cent, which was fol­lowed by yesterday’s trad­ing ses­sion price gain of 35 per cent. 

There­fore, by look­ing at what has been hap­pen­ing in the mar­kets for the past days, we gain a per­spec­tive into where we should expect the prices to move in the next few weeks. Look­ing at the chart below, today’s trad­ing ses­sion has been aggres­sive­ly bear­ish, and at one point, it was down by 15 per cent.

How­ev­er, the drop is not sur­pris­ing. Based on pre­vi­ous price action, today’s drop is like­ly a price cor­rec­tion, and we should expect the prices to pick the recent aggres­sive push to the upside again. There is a high like­li­hood that we might see Voy­ager Token push­ing past the $1.5 price lev­el. With the cur­rent volatil­i­ty and momen­tum, a trade above the $2 price lev­el in the next few trad­ing ses­sion is also a pos­si­bil­i­ty. A drop below the $0.50 price lev­el will inval­i­date my analysis.

Voyager Token Daily Chart



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *