VIRTUAL price looks bullish as it comes out of a downtrend, after which a move back up could be on the cards if buyers manage to propel the crypto past a critical resistance point.
At the time of writing, VIRTUAL is trading at $0.6708, with a 24-hour trading volume of $173.97 million and a market capitalization of $447.66 million. The token has decreased 0.08% over the last 24 hours.
VIRTUAL Price Approaches Critical Resistance Zone
The latest move comes following a comment made by crypto analyst Crypto Patel on August 22, noting that the price of VIRTUAL has already risen by about 40% from its accumulation zone. According to Crypto Patel, the token’s price is currently heading towards a critical resistance level, which could define the future direction of its recovery pattern.
As pointed out by Crypto Patel, there is a higher-time-frame triangle pattern that has formed for several months after VIRTUAL underwent a nearly 90% correction from its peak.
According to the analyst, the price range between $ 0.435 and $ 0.315 constitutes an order block and accumulation zone every week. From this price zone, VIRTUAL has made higher lows and reached descending resistance.
Also Read | CRO Price Eyes $0.1136 as Breakout Setup and Network Growth Signal Reversal
VIRTUAL Price Eyes Major Breakout
Breaking above $1.01 every week, based on the analysis, would be a clear signal for a higher time frame structure change. With a confirmed breakout, the levels that should follow can include $1.82 initially, then $2, and maybe even higher at $4 with a bullish phase in progress.
Nevertheless, the current configuration still isn’t a fully confirmed reversal. A failure around resistance would mean another pullback, with the $0.150-$0.08 level seen as a possible deeper accumulation zone in case of a breakdown from current weekly support levels.
Technical Indicators Show Rising Buying Pressure
The technical configuration of VIRTUAL price also indicates good progress.
The coin is trading just below the upper Bollinger Band, which is currently at $0.67417, while the middle and lower bands are located at $0.58398 and $0.49379, respectively. VIRTUAL’s latest move above the middle Bollinger Band implies that buying pressure has been very strong.
Another bullish sign can be seen on the MACD indicator. The MACD line is at 0.02069, higher than the signal line, which is at 0.00532.
What Happens Next for VIRTUAL Price?
However, the priority is to see if VIRTUAL can continue its rally and test the $1.01 resistance level.
Technical Bullish Scenario: If VIRTUAL closes above $1.01 for the week, then a recovery move will be favored with targets around $1.82, $2, and even $4 if the whole AI agent market is on the move.
Bearish scenario: The inability to overcome resistance may lead to profit-taking and further declines. The breakdown of the $0.435-$0.315 weekly support range will damage the structure and make the lower support range $0.150-$0.08 visible, as indicated by Crypto Patel.
At this point, the recovery of VIRTUAL is driven by momentum improvement and ongoing ecosystem development, although the token should overcome key resistance for confirmation of the bullish case.
Also Read | DASH Price Eyes $65 as Major Trendline Breakout Meets Privacy Upgrade
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
