Cryptocurrency Virtual Protocol (VIRTUAL) continues to show negative trends in the market, dropping by 10.51% over the last 24 hours and reducing its market cap to $934.63 million.
Overview of VIRTUAL's Status
Virtual Protocol (VIRTUAL) has declined by 10.51%, with its price now at $1.42. This decline is attributed to rising selling pressure. Despite the price drop, the daily trading volume surged by 11.74% to $192.5 million, indicating active investor withdrawal.
Technical Analysis
From a technical standpoint, VIRTUAL is near a key support level of $1.38. If this floor breaks, it could lead to a drop towards May's low, around $1.30. Conversely, immediate resistance is near $1.58. A breakout above this level could trigger a corrective move toward the $1.72 zone, but overall sentiment may hinder sustained upward movement. Indicators show underlying weakness: the Relative Strength Index (RSI) stands at 34.40, continuing to fall below the 14-day average of 46.89.
Future Forecasts
Overall market behavior of VIRTUAL reflects weakening demand and technical fragility. While liquidity remains substantial, directional momentum is firmly bearish. Unless the support at $1.38 holds or the RSI rebounds above its average, short-term recovery appears unlikely.
The current situation surrounding Virtual Protocol (VIRTUAL) indicates a growing bearish sentiment in the market, with critical support levels being tested.
