Virtuals Protocol crypto experienced a sharp decline in February, reaching a support level of $0.900. However, it surged by 40% over the last two days, indicating bullish presence at lower levels.
Current Market Status
According to CoinMarketCap, the current price of Virtuals Protocol crypto is $1.287 with an intraday surge of 24%. The 24-hour trading volume is $198.97 million, and the market cap stands at $827.9 million.
Technical Analysis
Virtuals Protocol is in a bearish trend and appears oversold, suggesting a potential temporary pullback rally toward the 200-day EMA. Recently, the price bounced from the $0.9294 level, indicating buyers' readiness for a rally. Short-term recovery is possible up to $1.4 if the price sustains above $0.900. The MACD curve is turning upward, indicating a positive crossover, and the RSI is at 43.02, suggesting buyers' return.
Trend Outlook
For Virtuals Protocol to continue its upward movement, it must overcome the resistance at the 200-day EMA level. Out of 25 indicators: 8 indicate sell, 10 are neutral, and 7 indicate buy, showing market neutrality. As long as the price stays above $0.900, a short-term rally is possible.
While Virtuals Protocol shows signs of recovery, sustainable growth requires overcoming key resistance levels. Future movements depend on buyers' support in the market.
