Virtuals Protocol (VIRTUAL) may make a mark on the bulls!

Virtuals Protocol's native token #VIRTUAL has attracted attention with a 24 percent increase in the last 24 hours.

This double-digit increase has made VIRTUAL even more popular. This token, which is the leader of the AI ​​Agents trend, has reached $380 million in daily trading volume.

VIRTUAL's 24 percent price increase was supported by a 109 percent increase in daily trading volume in the last 24 hours, reaching $383 million. This development shows that crypto investors are turning to the token.

In addition, VIRTUAL's Long/Short Ratio also supports this bullish view. According to data from crypto data platform Coinglass, the ratio is currently at 1.02, indicating higher demand for long positions.

If the Long/Short Ratio of an asset is above 1, there are more positions that the market price will rise (long positions) than positions that will fall (short positions). This high demand for long positions indicates that VIRTUAL may rise for a while.

On the daily chart, VIRTUAL is trading just below its ATH of $3.32, which it reached on December 16. This coincided with the pair receiving a reaction from the 20-day Exponential Moving Average (EMA) at $2.31.

The moving average tracks the weighted average of prices over the last 20 days and performs trend analysis. When an asset bounces off the 20-day EMA, it means that this level is being defended by buyers and the uptrend is strengthening.

If this support level continues to hold, VIRTUAL may start a new rally by refreshing the ATH. In such a scenario, the $4 band may be targeted. However, if it breaks below the 20-day EMA, there are chances of a drop to the $1.11 level.

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