The Voyager Token price has started December well. The VGX price is trading at $5.2595, which is a 32% 24-hour gain. It has risen by more than 45% from its lowest level last week and is approaching its all-time high.
What is the VGX?
Voyager is a blockchain company that offers a number of products. Its application enables people to buy and sell cryptocurrencies. It also offers a Voyager debit card that people can use to spend money globally. At the same time, it offers rewards through its earn product. It is a publicly-traded company that is listed in Toronto.
The Voyager Token is the native token for the company’s ecosystem. Users can stake the token and earn up to 7% in APR. It has three packages.
The Adventurer, Explorer, and Navigator. The adventurer are people who hold more than 500 VGX while Explorer and Navigator hold 5,000 and 20,000 VGX each. These holders earn the same 7% APR but the reward boost is usually relatively higher.
In November, Voyager and Mastercard teamed up with the goal of making stablecoins more spendable in the mainstream. This explains why the VGX price jumped in November.
Voyager Token price prediction
The four-hour chart shows that the VGX price has been in a strong bullish trend in the past few months. It has risen by more than 175% from its lowest level in October this year. The coin surged to an all-time high of $5.80 in November and then retreated.
It is now approaching this resistance level and is being supported by the 25-day and 50-day moving averages. The MACD has also moved relatively higher. It is also forming a cup and handle pattern.
Therefore, I suspect that the Voyager Token price will keep rising in the near term. More gains will be confirmed if the price rises above the all-time high of $5.80. If this happens, the next key resistance level will be at $7. A drop below $4.5 will invalidate the bullish trend.