Key Takeaways
- Virtuals protocol and its ecosystem continue to build despite market uncertainties as traders and investors become interested in price.
- Market sentiment for virtual protocol remains bullish until $2 support is violated to flip the price bearish.
- The current market price action for Virtuals protocol trades below 50-day and 200-day EMAs as bulls aim for a $3 price push.
Virtuals Protocol (VIRTUAL) is fast becoming a dominant player in the crypto market. It has gained the attention of investors and traders after its impressive rally from a region of $0.25 to a high of $5. It has hit an all-time high and created multiple ROI on investment for a new narrative under the AI agent sector, as many traders and investors keep this token on their radar.
With the help of a unique AI technology and blockchain, Virtuals protocol provides an ecosystem for other AI agents to thrive while also making it possible for contributors or co-owners of AI agents to earn incentives, making Virtuals protocol a strong force to contend with in the AI industry of the crypto space.
While this crypto project possesses a strong use case, its utility token, VIRTUAL, has struggled to maintain its uptrend for weeks. The cryptocurrency market continues to look uncertain for trading, and traders and investors remain cautious.
Despite the current market trend preventing VIRTUAL tokens from rallying higher, there are high expectations for this AI agent to rally as high as $10 in the coming market uptrend as volatility and volume return to the market.
Virtuals Protocol Market Sentiment – A Positive Outlook
The market sentiment around VIRTUAL and its ecosystem remains optimistic. High interest in AI agent solutions as a new narrative and expectation of AI agents contributing to the DeFi space has traders and investors glued to this space, especially VIRTUAL.
Despite reduced volume across the market, the growing ecosystem has indicated growth and continuous building of other AI agents on the VIRTUAL ecosystem to solve problems in DeFi and the metaverse.
Virtuals Protocol (VIRTUAL) Technical Analysis
Source – 4HR VIRTUAL Price Chart From TradingView
Virtuals protocol is trading around $2.6, just shy of its key support of $2.2. After bouncing from this key demand zone to trade high towards $3, the price dropped towards $2.6 in the last couple of days.
The price of Virtuals protocol formed strong support around $2.5 and $2.2, preventing it from trading lower. Price has respected its support area of $2.5, with bulls looking to push the price to the upside.
If the price of the Virtual protocol resumes its uptrend, it could face resistance around $3.1, $3.8, and $5 in the lower timeframe. If the price of the Virtual protocol clears these resistances, keeping it from trading higher to the upside, we could see the price trade towards the region of $7 and a possible $10.
While Virtuals protocol trades below its 50-day and 200-day EMA, indicating a short-term bearish trend in price, a break and close above $3.1 could see the price flip its trend above the 50-day and 200-day EMAs as price could further trigger more buying opportunities for traders and investors.
Virtuals protocol price remains strong for an uptrend continuation until the support of $2 is violated. Before then, the price could become bearish, as bears could take advantage of the price to the downside towards a low of $1.4.
