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- Visa stock price struggles at its 200-day moving average amid a sustained rally.
- Buyers have hardly kept prices above $200 for the past three days.
- In the letter dated November 14, Visa stock price closed at $206.86 mark with a gain of 0.91%.
Global markets are performing incredibly on the flip side in November. The crypto market witnessed a scary bloodbath over the past few days due to the FTX collapse. NYSE:VISA stock price traded above its 30-day low, which attracted interest from buyers to accumulate in this digital asset.
Most recently, FTX and VISA announced their expanded partnership in early October, but following the massive crypto (FTX) exchange crisis, VISA terminated its global credit card agreement with FTX. Although there were no major losses in the charts during the exchange collapse, Visa Inc. lost a small amount amid the crash.
As per daily price action, NYSE: VISA stock price seems bullish towards the higher territory. Although, there are multiple retracement phases but after reversing from 30 day low, buyers are constantly accumulating asset prices in dip. At the time of writing, shareholders hold asset prices above the ideological round level of $200, flipped into support. On the higher side, the $218 to $220 zone stood to be a crucial resistance, buyers need to break this level together with massive volume to sustain breakout.
The technical chart suggests strong buying pressure in Visa stock price despite Hughes’ range-bound market. Notably, buyers maintain asset value above 20,50 and 100 Day moving averages and now Visa stock price struggles at 200 DMA to hit the next bullish hurdle. In the letter of 14 November, Visa stock price closed at $206.86 mark along with 0.91% gain.
The daily RSI indicator is about to move above the 60 level after taking support at the semi-line (50 points). This could be a major bullish signal for Visa stock to continue its bullish trend. Moreover, MACD remains in the positive zone and the histograms are also forming higher highs.
Conclusion
NYSE: Visa share price turned positive as bulls closed the daily price candle above the 200-day moving average on Nov. 14. Amid a bullish trend, the $218 to $220 area was an important resistance, buyers need to break this level with massive volumes to sustain the breakout.
Support level – $190 and $175
Resistance level – $220 and $230
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
