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Highlights
- On 28 June, the VGX crypto was witnessing a poor run as it was down by 15.30% at 7:00 AM (GMT +1), according to CoinMarketCap.
- As a brokerage offering protocol, Voyager allows the market participants to buy, sell, and trade cryptocurrencies.
The Voyager Token (VGX) has been witnessing red for some time now. It was largely pulled down by the bearishness in the market for more than a month. It worsened when the Voyager Token disclosed its outstanding loans from the Three Arrows Capital (3AC) further denting investors’ confidence. It has witnessed a loss of over 43.4% in the past 7 days.
On 28 June, the VGX crypto was witnessing a poor run as it was down by 15.30% at 7:00 AM (GMT +1), according to CoinMarketCap. The token, however, was witnessing decent traction in volume as it was up by over 88%.
What does technical indicate?
As a brokerage offering protocol, Voyager allows the market participants to trade cryptocurrencies. It allows investors to manage their portfolios with the freedom and exposure to over 100 different crypto assets through its mobile app.
But with the recent turn of events, the Voyager crypto has been witnessing significant decline over the past few weeks. In fact, on 28 June, the VGX crypto’s RSI stood at 24.76 indicating an oversold position in the market during the intraday trading.
Image Credit: Trading View
In the last one week or so, following the 3AC announcement, the chart indicates a further downside. The MACD line mirrors the RSI’s theory as the momentum seems largely toward the south suggesting that the VGX token is fully in the grip.
Image credit: Trading View
Even though the Bollinger Bands indicates that they have narrowed the gap marginally compared to earlier this week, but still, it has enough in it for the market participants to be wary of.
Voyager crypto's price performance
The VGX crypto on Tuesday was trading at US$0.301365 with a 24-hour volume of US$1,64,44,015. It had a live market cap of US$8,39,24,822 and 27,84,82,214 VGX coins in circulation.
With the overall crypto market still gripped in the bearish phase, market participants will do well to ensure that they don’t take any decision that is taken due to the lack of understanding of the market. Proper market research and making well-informed decisions in the crypto market are the keys to ensuring that you don’t suffer financial losses.
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