VIRTUAL Price Could Rally Beyond $3 If This Pullback Level Holds — Here’s Why
Virtuals Protocol (VIRTUAL) worth has cooled off after a powerful run, slipping 8% within the final 24 hours. Still, the broader setup appears to be like constructive.
The token stays up practically 79% over the previous seven days, and the present pullback might merely be a pause earlier than one other push larger, if it stays above a key assist stage.
Mega Whales Accumulate as Retail Interest Returns
Even as smaller holders booked earnings, mega whale wallets, the highest 100 VIRTUAL addresses, quietly elevated their holdings through the newest dip. Their mixed stability rose 0.06% over the previous 24 hours to 966.01 million tokens, which means they added about 0.58 million VIRTUAL.
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That sort of regular accumulation typically indicators that huge holders view the correction as non permanent.
Meanwhile, alternate balances have dropped 0.46%, with about 0.18 million tokens transferring off buying and selling platforms. This reveals that whereas the mega whales have been loading up, retail and smaller whales could be reserving earnings. Yet, web shopping for stress stays.
This quiet accumulation additionally strains up with enhancing chart indicators.
On the 4-hour chart, the 100-period Exponential Moving Average (EMA) has simply crossed above the 200-period EMA, a bullish crossover that always indicators rising energy within the short-term pattern. The EMA is a transferring common that offers extra significance to latest costs, serving to merchants spot early momentum shifts.
At the identical time, the Money Flow Index (MFI), which tracks how a lot cash is coming into or exiting the market based mostly on each worth and quantity, has began curling upward from close to 40 towards 60.
That reveals shopping for energy returning steadily, particularly from retail merchants who typically react to whale-led strikes. The latest VIRTUAL/USDT listing on OKX might be a sentimental driver of this renewed retail pickup.
Together, these on-chain and chart indicators recommend that each massive and smaller buyers are positioning for a continuation of the broader uptrend. The VIRTUAL price pullback, for now, seems to be a pause and never the top of the rally.
Flag Breakout And Bullish Divergence Keep the VIRTUAL Price Rally Alive
VIRTUAL recently broke out of a flag-and-pole sample close to $1.42. It is a setup that always precedes continued upside after a pointy rally. From that breakout, the projected transfer factors towards $3.34, representing a possible 133% acquire from present ranges.
However, the token should first shut a full 4-hour candle above $1.65 to substantiate renewed energy and try a push in the direction of $3.34. Adding conviction to this view, between October 26 and 28, the value made a better low whereas the Relative Strength Index (RSI) made a decrease low.
This sample, a hidden bullish divergence, sometimes reveals that an uptrend stays intact at the same time as costs cool.
It additionally hints that the continued pullback may finish quickly if consumers proceed to defend the decrease ranges.
For draw back validation, the bullish setup stays legitimate so long as VIRTUAL holds above $1.17. A 4-hour shut under that may open the best way towards $1.06. That would invalidate many of the bullish pole-and-flag breakout momentum.
Even if the rally reaches $3.34, VIRTUAL would nonetheless be about 35% under its all-time high of $5.07, leaving ample room for restoration. If the broader pattern continues, this pullback may drive the subsequent main rebound part quite than its finish.
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