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HomeCrypto NewsYou Ask, We Analyze: Why Voyager Digital's Stock May Be Set To...

You Ask, We Analyze: Why Voyager Digital’s Stock May Be Set To Reverse Course Despite Bitcoin, Ethereum Slump | Benzinga


On Thursday night, Benzinga requested its followers on Twitter what they’re shopping for on the open on Friday. From the replies Benzinga chosen one ticker for technical evaluation.

@Ehrls15, @VillagePirate, @taidarsonics, @FuturePurfect and @ekfpromo are shopping for Voyager Digital, Ltd. (OTC:VYGVF).

@Rghj21 commented “you can buy now while it’s undervalued or wait and pay a lot more.” The dealer believes Voyager must be buying and selling alongside Coinbase Global, Inc (NASDAQ:COIN). @VillagePirate responded to say Voyager has “awesome product growth for 2022.”

On Feb. 14, the cryptocurrency buying and selling platform and brokerage is anticipated to print its fourth-quarter 2021 earnings outcomes and the estimates Voyager gave on Jan. 5 point out the corporate will present huge progress. Voyager anticipates its fourth-quarter income to come back in at $165 million in comparison with simply $3.6 million for a similar interval the 12 months prior.

Over the course of 2021, Voyager elevated its complete funded person accounts from 43,000 on Dec. 31, 2020. to 1.075 million as of Dec. 31, 2021.

Voyager plans to make use of the enhancements it made to its platform and technological capabilities in 2021 to proceed to scale its person base in 2022.

“We expect to continue to grow our team in 2022 as we expand into NFT’s, the Metaverse, and our own custody solution. Also, we look forward to beginning our rollout in Europe and Canada, launching our debit card, and adding credit products and equity trading,” mentioned Voyager CEO Steve Ehrlich.

The inventory has been closely pressured by the sliding cryptocurrency market led by Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which have misplaced about 38% and 33%, respectively, since reaching all-time highs on Nov. 10. Voyager topped out the day prior, on Nov. 9 on the $20.97 mark and is now buying and selling over 50% decrease. If the corporate is ready to pull by way of and print blow-out earnings come February, nevertheless, Voyager might be able to defy the overall crypto hunch.

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The Voyager Chart: The steep downtrend could also be set to alter if Voyager can present it has reacted to the bullish double backside sample the inventory printed on Jan. 10 and Jan. 11. Although Voyager shot up about 20% off the double backside low at $9.54 on each Wednesday and Thursday, it has rejected a resistance stage at $11.50 on every day and dropped decrease.

  • If Voyager is ready to maintain above the $9.54 stage, the inventory could print a better low, which might point out a reversal to the upside could also be within the playing cards.
  • If Voyager is about to reverse into an uptrend it might want to shoot up and print a better excessive above $11.57 over the following few buying and selling days.
  • Voyager’s relative power index is measuring in at about 37%, which signifies the inventory is nearing oversold territory.
  • The inventory is buying and selling beneath the eight-day and 21-day exponential transferring averages (EMAs), with the eight-day EMA trending beneath the 21-day. Bullish merchants would seemingly really feel extra assured if Voyager was capable of regain help of the eight-day EMA.
  • Voyager has resistance above at $11.51 and $13 and help beneath at $10 and $8.64.

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