Virtuals Protocol Price Analysis

Virtuals Protocol (VIRTUAL) is correcting within an uptrend, but a minor positive is that it finds support at the 20-day EMA ($2.14).

The upward sloping 20-day EMA and the RSI in the positive zone signal that buyers have the upper hand. If the price breaks above $2.85, the VIRTUAL/USDT pair could rally to $3.32. A breakout and close above this resistance could take the pair to $4.

In contrast to this assumption, if the price continues to decline and breaks below the 20-day EMA, it will suggest that the bulls are taking profits. There is another strong support at $2, but if this level breaks, the pair could enter a deeper pullback towards $1.50.

The pair has dipped below the moving averages, but the bears are having a hard time driving the price to $2. This suggests that selling dries up at lower levels. Buyers will try to push the price above the moving averages, which could open the doors for a rally to $3 and then $3.32.

Conversely, if the price turns back from the moving averages, it will signal that bears are selling on rallies. This could sink the pair towards the strong support at $2. If this support breaks, the pair could drop to $1.50.