Virtual Protocol Surges Above $1.04, Potential Uptrend Continuation

Virtual Protocol (VIRTUAL) is gaining momentum again, currently priced at $1.09 with a trading volume of $133.33 million in the last 24 hours, with a market value of $723.28 million, sustaining market dominance of 0.02%. Within the previous 24 hours, the token has appreciated by 5.48%.

Source: TradingView

VIRTUAL Eyes Break Above Resistance Levels

Analysis produced by More Crypto Online indicates that in order for $VIRTUAL to continue with the positive movement, levels should stay above $0.86. Analysts noted that a further substantial increase is still expected, as investors could push the markets towards another high.

Source: X

However, given the market activity that has resumed, it will be important to watch the next few market sessions to determine if VIRTUAL can move above the resistance levels to continue the uptrend.

Also Read | Ripple’s UK FCA License Lifts Institutional Confidence While XRP Eyes $3.66

Critical Resistance Levels Could Trigger Reversal

Finora AI also shared insights on the current technical analysis for VIRTUAL. It provided information that the price is building up above the recent lows, which is showing early signs of bullish analysis.

Analysts noted that if the price sustains above $1.0421 and confirms bullish activity, such as a strong long candle or a successful break and retest, it can move on to $1.0910 and even $1.1037.

Source: X

However, caution is advised near resistance levels. In case of rejection from $1.0910 or reversal areas such as double top or engulfing reversal, a possible retracement of the price may return to $1.0421 and even $1.0339 levels. Breakthrough below $1.0421 may be considered as a short-term negative trend, while the next strong level of support can be expected at $0.9938.

Virtual Protocol has been moving positively, but the key support levels breaking should be avoided at all costs if the momentum is to be sustained. Investors are eagerly anticipating the confirmation of the break above $1.0421 since it would surely open the way for the upcoming rally.

Also Read | TRON Price Alert: Bullish Momentum Could Push TRX to $0.53