Visa stock price prediction: VISA strikes global credit deal with FTX, but asset still looks good for investment
- Visa’s stock price is struggling at its 200-day moving average amid a sustained rally.
- Buyers have barely kept prices above $200 for the past three days.
- In the letter dated Nov. 14, Visa’s stock price closed at $206.86 with a gain of 0.91%.
Global markets are behaving incredibly upside down in November. The crypto market has witnessed a frightening bloodbath over the past few days due to the collapse of FTX. NYSE: VISA stock price traded above its 30-day low, sparking buyers’ interest in accumulating in this digital asset.
Most recently, FTX and VISA announced their expanded partnership in early October, but following the massive crypto exchange (FTX) crisis, VISA terminated its global credit card agreement with FTX. Although there were no major chart losses during the exchange crash, Visa Inc. lost a small amount amid the crash.
According to the daily price action, NYSE: VISA stock price looks bullish towards higher territory. Although there are several retracement phases, but after reversing from the 30-day low, the buyers are constantly accumulating the prices of the falling assets. At the time of writing, shareholders are holding asset prices above the ideological $200 level, reversed in support. On the upper side, the $218-$220 area has proven to be a crucial resistance, buyers need to break this level with massive volume to support the breakout.
The technical chart suggests strong buying pressure on Visa’s stock price despite Hughes’ limited market. Notably, buyers are holding asset values above the 20, 50 and 100 day moving averages and now Visa’s stock price is struggling at 200 DMA to reach the next bullish hurdle. In the Nov. 14 letter, Visa’s stock price closed at $206.86 with a gain of 0.91%.
The daily RSI indicator is about to break above the 60 level after taking support at the half 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.
NYSE: Visa stock price turned positive as bulls closed the daily price candle above the 200-day moving average on November 14. In the midst of an uptrend, the $218-$220 area was an important resistance, buyers need to break this level with massive volumes to support the breakout.
Support level – $190 and $175
Resistance level – $220 and $230
The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.