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.