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

On Thursday evening, Benzinga asked her Twitter followers what they were buying outdoors on Friday. From the responses, Benzinga chose one bar for technical analysis.

@EHRLS15.And Tweet embedAnd Tweet embedAnd Tweet embed And Tweet embed they buy Voyager Digital, Ltd. (OTC: VYGVF).

Rghj21 He commented, “You can buy now while it’s undervalued or wait and pay more.” The trader thinks you should trade Voyager side by side Coinbase Global, Inc (NASDAQ: currency). VillagePirate responded, saying that Voyager has “remarkable product growth for 2022.”

On February 14, the cryptocurrency exchange and brokerage platform is expected to print earnings results for the fourth quarter of 2021, and estimates given by Voyager on January 5th that the company will show explosive growth. Voyager expects fourth-quarter revenue to come in at $165 million, compared to just $3.6 million for the same period a year earlier.

Over the course of 2021, Voyager has increased its total funded user accounts from 43,000 as of December 31, 2020. to 1.075 million as of December 31, 2021.

Voyager plans to use the improvements it made to its platform and technology capabilities in 2021 to continue expanding its user base in 2022.

“We expect to continue growing our team in 2022 as we expand into NFT’s, Metaverse, and our incubation solution. We are also looking forward to starting our rollout in Europe and Canada, launching our own debit card, adding credit and stock trading products,” said Voyager CEO Steve Ehrlich.

The stock was under severe pressure due to the slump in the cryptocurrency market led by Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO:ETH), which has lost about 38% and 33%, respectively, since reaching all-time highs on November 10. Voyager broke the top the day before, on November 9 at the $20.97 mark, and is now trading above 50% lower. If the company is able to generate huge profits and print in February, Voyager may be able to challenge the general slump in crypto.

Want a live analysis? Find me in the BZ Pro lounge! Click here for a free trial.

Voyager diagram: The sharp downtrend may be set to change if Voyager can show its reaction to the stock’s bullish double bottom pattern printed on January 10 and January 11. Although Voyager rose nearly 20% from the double bottom of $9.54 on both Wednesday and Thursday, the resistance level at $11.50 rejected each day and fell lower.

  • If Voyager is able to hold above the $9.54 level, the stock could print a higher bottom, which could indicate a reversal to the upside may be in the cards.
  • If Voyager is set to reverse in an uptrend, it will need to rise and print higher highs above $11.57 over the next few trading days.
  • The Voyager RSI measures around 37%, which indicates that the stock is approaching oversold territory.
  • The stock is trading below the eight-day and 21-day exponential moving averages (EMAs), with the eight-day exponential moving average heading below 21. Bullish traders are likely to feel more confident if Voyager can reclaim support from the eight-day exponential moving average.
  • Voyager has higher resistance at $11.51 and $13 and support below at $10 and $8.64.