VGX Technical Analysis: Buyers Ready To Surpass The $1.50 Barrier

VGX price shows a sudden surge in buying pressure resulting in the breakout of the psychological barrier of $1. Will the buying spree reclaim $1.50? Key technical points: The VGX market value increased by 28.94% today at press time. The bullish surge surpasses the 50-day EMA. The 24-hour trading volume of the Voyager is $38.07 Million, indicating a hike of 40%. Past Performance of VGX The sharp sell-off in April resulted in a downfall in the VGX prices before taking a sideways trend in the May month. The bearish spiral accounts for a decline of 70% to reach the crucial support of $0.61 after the crackdown of $1. At the $0.61 demand level, a bullish resurgence starts a recovery trend which recently gained momentum to break and reclaim $1 with a 62% price jump in the last four days. Source- Tradingview VGX Technical Analysis VGX prices showcase a sharp recovery, but the increased selling pressure on the day before yesterday warns of a high supply pressure at the 100-day EMA. Hence, the recovery rally might find it hard to find a closing above the bearish EMA. The RSI slope shows a surge in the underlying bullishness as it approaches the overbought boundary after a sharp spike from the 14-day SMA line. Furthermore, the MACD indicator shows the fast and slow lines on the verge of crossing above the zero line with increasing trend-momentum of bullish histograms. Hence, the technical indicators reflect a boom in buying pressure, inc...