Virtuals Protocol (VIRTUAL) Bulls Charge Ahead, Eyeing $5 Barrier
- VIRTUAL is showcasing bullishness with a 5% intraday increase in the last 24 hours.
- RSI at 62.43 shows healthy momentum without overbought conditions, leaving room for further upside.
- Virtuals Protocol targets resistance at $3.99 and $5.13, and support is established at $2.00
After its all-time high at $5.13 in December 2024, Virtuals Protocol has shown a strong pattern of technical recovery. After a long stretch of falling prices, VIRTUAL has now started an upward trend that seems to be holding.
The daily chart shows that March saw the start of an accumulation phase, where the price stayed between $0.40 and $0.80. It took about two months of base building before the recent rise above $2.00. This showed that both institutional and retail investors became interested again.
As per CMC data, the Virtuals Protocol is currently trading at $2.45, which is a significant improvement from its March lows. Looking at moving averages, the price trend seems to be turning around. The shorter-term averages are rising, but the longer-term ones are levelling off, which could mean the downtrend is coming to an end. The price has returned above the 50-day and 200-day EMAs, which is a major sign of bullish strength.
What’s Next For Virtuals Protocol?
The RSI stands at 62.43, which means the market is moving healthily but has not reached overbought conditions. As a result, there is still potential for the price to move higher before resistance from momentum divergence appears. The RSI going from oversold in March to its current levels shows that buying pressure is increasing.
The social sentiment shows a reading of 0.2280, which means many traders are cautiously positive but not overly excited. This level of measured sentiment is good for the market, as it means the current rise is not due to excessive speculation.
Resistance levels to pay attention to are $3.99 and the previous high at $5.13. Support is found at $2.00, and the next level is near $0.80, where the price consolidated in March. Long positions look promising as long as traders use stop-losses below $2.00.
VIRTUAL seems to be in the first phase of a possible multi-month recovery, with a strong base for further increase toward its earlier highs.
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Virtuals Protocol (VIRTUAL) Bulls Charge Ahead, Eyeing $5 Barrier
- VIRTUAL is showcasing bullishness with a 5% intraday increase in the last 24 hours.
- RSI at 62.43 shows healthy momentum without overbought conditions, leaving room for further upside.
- Virtuals Protocol targets resistance at $3.99 and $5.13, and support is established at $2.00
After its all-time high at $5.13 in December 2024, Virtuals Protocol has shown a strong pattern of technical recovery. After a long stretch of falling prices, VIRTUAL has now started an upward trend that seems to be holding.
The daily chart shows that March saw the start of an accumulation phase, where the price stayed between $0.40 and $0.80. It took about two months of base building before the recent rise above $2.00. This showed that both institutional and retail investors became interested again.
As per CMC data, the Virtuals Protocol is currently trading at $2.45, which is a significant improvement from its March lows. Looking at moving averages, the price trend seems to be turning around. The shorter-term averages are rising, but the longer-term ones are levelling off, which could mean the downtrend is coming to an end. The price has returned above the 50-day and 200-day EMAs, which is a major sign of bullish strength.
What’s Next For Virtuals Protocol?
The RSI stands at 62.43, which means the market is moving healthily but has not reached overbought conditions. As a result, there is still potential for the price to move higher before resistance from momentum divergence appears. The RSI going from oversold in March to its current levels shows that buying pressure is increasing.
The social sentiment shows a reading of 0.2280, which means many traders are cautiously positive but not overly excited. This level of measured sentiment is good for the market, as it means the current rise is not due to excessive speculation.
Resistance levels to pay attention to are $3.99 and the previous high at $5.13. Support is found at $2.00, and the next level is near $0.80, where the price consolidated in March. Long positions look promising as long as traders use stop-losses below $2.00.
VIRTUAL seems to be in the first phase of a possible multi-month recovery, with a strong base for further increase toward its earlier highs.
Highlighted Crypto News Today:
AAVE Price Jumps 145% in Two Months as Exchange Supply Hits 3-Year Low
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