Date: Fri, Dec 27, 2024, 11:15 AM GMT
In the cryptocurrency market today, major altcoins are showing signs of recovery, driven by a decline in Bitcoin dominance, which now stands at 58.07%. Among the notable gainers is $VIRTUAL, the native token of Virtuals Protocol, a decentralized platform designed to enable the creation and monetization of AI personas for virtual environments like games and metaverses.
Source: Coinmarketcap
The token is now trading near a critical resistance level, raising speculation about a potential breakout.
Key Resistance Zone:
VIRTUAL’s recent performance has been exceptionally bullish. It has surged by over 50% in the past seven days and achieved a stunning 277% gain over the past month, bringing its current price to $3.27. This places it squarely within a significant resistance zone between $3.21 and $3.32.
Virtuals Protocol (VIRTUAL) 4H Chart/ Coinsprobe
Earlier this month, on December 12, VIRTUAL demonstrated a similar breakout pattern, leading to a 65% rally that propelled its price to an all-time high of $3.32. A breakout above this level and successful retest could pave the way for further gains, with key psychological targets at $4 and $5, marking a potential 50% upside from the breakout point.
The MACD (Moving Average Convergence Divergence) indicator shows signs of bullish momentum, with the MACD line crossing above the signal line. This suggests increasing buying pressure. Meanwhile, the RSI (Relative Strength Index) sits at 61.90, indicating that the token is not yet overbought but is approaching a level where strong upward momentum could sustain further price appreciation.
Market Sentiment and Potential:
Given the positive sentiment surrounding Virtual Protocol’s utility in AI-driven virtual environments and its rapid adoption, many traders and investors are closely watching this resistance zone. A decisive move above $3.32 could signal the continuation of its bullish trajectory, while failure to break this level might lead to temporary consolidation or retracement.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
