Voyager token (VGX/USD) jumps 24%. Here is the reason and potential price action next

• Voyager Token Soars Double Digits Thursday

• Binance.US Acquisition Report Boosts Token

• Token faces correction in key resistance

Voyager (VGX/USD) was at the center of retailers’ attention on Thursday, witnessing a surge in trading volume. The cryptocurrency of struggling crypto firm Voyager Digital was heavily mentioned on the social trading platform.positive cryptocurrency news It was boosting the tokens of bankrupt crypto lenders.

On Thursday, reports surfaced that Binance.US is acquiring a struggling cryptocurrency company.Voyager filed bankruptcy protection After a sustained crypto winter, a liquidity crisis hit in July. His CEO of Binance, Changpeng Zhao, confirmed the purchase report on Thursday. CZ said Binance.US is bidding on Voyager again after his failed deal with FTX collapsed.

Binance.US isn’t the only company eyeing Voyager assets. On November 22nd, Kaj Labs announced it would launch his second offer to acquire the distressed company’s assets. Kaj Labs says it still believes Voyager’s assets have value and will negotiate with the company in good faith. However, Biannce.US’s entry into the bidding war is drawing attention.

VGX traded from a low of $0.35 to an intraday high of $0.53. At press time, the cryptocurrency was trading at $0.44 after a short correction. The next price action and developments will determine whether we see a sustained bullish surge in VGX.

VGX Corrects With Resistance After Intraday Rise

VGX/USD chart by TradingView

On the daily chart, VGX has started a short-term bullish trend since bottoming out at $0.2. Following intraday gains, the cryptocurrency broke above the resistance at $0.44. However, the price has retreated and may break below the resistance.

RSI has crossed the neutral zone. Nonetheless, no terms were bought, suggesting a higher price is possible.

Should I buy VGX now?

A close on the daily candlestick above $0.44 could reinforce bullish interest in VGX. However, this cryptocurrency is driven by speculation.

So if the expected buyouts of distressed companies do not occur, a short correction could occur. It may be too early to buy VGX now.

Where to buy VGX

binance

Binance is one of the largest cryptocurrency exchanges in the world. Suitable for more experienced investors, with over 600 cryptocurrencies to choose from. Binance is also known for its low transaction fees and multiple trading options that users can benefit from. Peer-to-peer trading, margin trading, spot trading.

Buy VGX on Binance Now

swap zone

Swapzone is a crypto exchange aggregator that acts as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, secure user flow and clear data to help users find the best exchange rates across the cryptocurrency market.

Buy VGX now on Swapzone