The cryptocurrency market remains under significant selling pressure. Recent price changes in Ethereum and Virtuals Protocol indicate ongoing trends and potential consequences.
State of Ethereum
Ethereum (ETH) is experiencing strong market pressure. Despite a recent attempt to break resistance at $3,940, it is now trading at $3,460, marking a 5% decline for the day.
Analysis of Virtuals Protocol
Virtuals Protocol (VIRTUAL) has also felt the impact of market dynamics, dropping 2% today and erasing all its monthly gains, now down 29%.
Outlook for VIRTUAL
The current structure of VIRTUAL remains bearish as the price is below the 200-day moving average of $1.44. If it continues to decline and reaches the potential reversal zone around $0.69, this may attract buying interest.
In the current state of the cryptocurrency market, both Ethereum and Virtuals Protocol are showing negative trends. Further developments are expected to depend on the overall market context and technical indicators.
