The Voyager Token price has defied the market sentiment and soared to an all-time high. The VGX token has jumped to a high of more than $5, which is about 227% above the lowest level in October this year.
This growth brings its total market capitalization to more than $1.4 billion, according to CoinMarketCap. CoinGecko places a question mark on its market cap figure.
The Voyager Token is the native token for Voyager’s ecosystem. For starters, Voyager is a publicly-traded company based in Canada.
The firm offers a suite of different products like crypto rewards, trading marketplace, and a debit card. The coin’s rally is mostly because it was recently launched in Coinbase Pro, meaning that institutional investors can now trade it.
Voyager Token price forecast
The VGT price has been in a strong bullish trend in the past few days. The coin’s bullish trend accelerated when it moved above the important resistance level at $3.5292, which was the previous all-time high.
It was also the upper side of the cup and handle pattern. The coin then did a break and retest pattern after it broke out. This is usually a bullish signal. It is now significantly above that support level.
Therefore, there is a likelihood that the Voyager Token price will keep rising as bulls target the next key resistance level at $7. This will happen as the fear of missing out (FOMO) steps in. This price is about 36% above the current level. A drop below $4.5 will invalidate this view.