CryptocurrencyNewsPrice Analysis

Voyager Token (VGX) Surges 70% Following Coinbase Listing

Briefly-

  • Coinbase exchange revealed its move to support Voyager token recently.
  • If it meets liquidity conditions, VGX trading will start on 18 November.
  • VGX had its price soaring 70% on 17 November after the announcement, targeting $5.

Coinbase Pro declared supporting Voyager token (VGX) trading on 17 November. Market players can access the coin for trading starting on 18 November if the asset meets liquidity conditions. Meanwhile, VGX witnessed its price increase by 70% on 17 November following the listing announcement by the exchange.

‘Coinbase Effect’ Had Voyager Token Rallying

Leading crypto exchange Coinbase Pro listed VGX and will have the Voyager Token order books introduced in three phases – full trading mode, limit-only, and post-only. Trading on the platform will start if the crypto meets liquidity conditions on 18 November.

If any new order book fails to meet the exchange’s valuation for an orderly and healthy market, Coinbase might delay the future phase’s order book launch. It might also suspend trading following the company’s rules.

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Centralized exchange Voyager has VGX as its native coin, and the token surged 70% during the 17 November trading sessions. That upswing followed the announcement by Coinbase as the crypto saw magnified retail traction. Digital coins surging after US-based exchange listing seems a usual case and resulted in the ‘Coinbase Effect’ term, which has ensured a positive price effect on multiple cryptos in the past years.

Voyager CEO Stephen Ehrlich recently said the company has a ‘record quarter’ and that the latest BTC dip magnified centralized exchange volumes. The executive confirmed that as the leading crypto lost nearly 10%, the crypto website had increased volumes while investors bought the dip.

VGX Price Targets $5 Next

As VGX saw a massive rally in the past day, a bullish price chart indicates that the crypto still has chances to surge high. For now, VGX has printed a cup-handle formation on the 24hr chart, projecting a 43% upsurge to $5 from the pattern’s neckline. Since VGX surged past the technical pattern’s resistance barrier on 17 November, it authorized the optimistic narrative.

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For now, the Voyager token requires an additional 19% surge to attain the bullish aim by the prevailing chart formation. Increased aspiration might see the token tagging 127.2% FIB retracement at $5.3.

James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

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