Transaction activity witnessedVIRTUAL has seen a huge increase, with the number of transactions reaching 763 as of the latest data.

This represents a significant rise from levels below 200 in early December, showing a near-fourfold increase in activity.

The sharp rise reflects the utility of a growing network, driven by increased trading and interaction on the virtual protocol.

The boom indicates that both speculative and real-world use cases are gaining traction.

Therefore, the continued rise in trading volume is in line with other bullish indicators, which reinforces optimism for further price momentum.

Source: Santiment

The long/short ratio indicates cautious optimism.

The long/short ratio added another layer to the analysis, with 53.19% of positions favoring longs compared to 46.81% of shorts.

This data showed cautiously optimistic expectations from traders, who expected VIRTUAL to maintain its upward trend.

Additionally, the steady buildup of long positions highlighted the increased confidence despite resistance levels.

However, traders should remain alert to sudden sentiment shifts, as external market factors can impact momentum.

Source: Coinglass

Therefore, VIRTUAL seems to be on its way out. Buying whales, daily activity rising to 1290 addresses, and strong market sentiment point to a bullish outlook.

If VIRTUAL manages to break the resistance at $3.58, it could start a big rally in the near term.