Analysis of the price of Virtuals Protocol

Virtuals Protocol (VIRTUAL) resumed its upward trend after breaking the rigid resistance at USD 3.33 on December 27.

The upward slope of the 20-day EMA (USD 2.71) suggests that buyers are in control, but the negative divergence in the RSI indicates that the positive momentum may be slowing down. The VIRTUAL/USDT pair could rise to USD 4 and above to USD 4.79.

On the downside, a break and close below USD 3.33 will be the first sign of weakness. The pair could fall to the 20-day EMA, which is a crucial level to watch. If the price strongly rebounds at the 20-day EMA, the bulls will again try to resume the upward trend. A break and close below the 20-day EMA could initiate a deeper correction towards USD 2.