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- VIRTUAL gained 10% as daily trading volume jumped 180% to about $115 million.
- Whale activity and renewed spot buying are strengthening the bullish momentum.
- A breakout above $0.60 could put the $0.68 resistance level in focus.
Virtuals Protocol’s VIRTUAL token is showing renewed bullish momentum after gaining roughly 10% over the past 24 hours. The move comes alongside a sharp rise in trading activity, stronger whale participation and renewed demand from spot buyers.
The combination has strengthened the case for a potential recovery toward the $0.68 resistance area, although VIRTUAL still needs to clear a key hurdle around $0.60 before the bullish setup can fully develop.
VIRTUAL Reclaims Key Moving Averages
VIRTUAL was trading above both its 20-day and 50-day exponential moving averages on the daily chart at press time. Moving back above these indicators represents an improvement in the token’s short-term technical structure.
The $0.52-$0.54 area has also emerged as an important demand zone. Buyers have defended this range during recent sessions, and it has previously supported three separate upward moves over the past month.
A sustained move above the nearby $0.60 resistance could therefore open the way toward $0.68. However, failure to break that level could leave VIRTUAL vulnerable to another pullback toward its moving averages.
Trading Volume Jumps 180%
The latest rally is also supported by a major increase in market activity. VIRTUAL’s daily trading volume surged 180% to approximately $115 million.
Rising volume during an upward price move can indicate stronger market participation and provide additional liquidity for buyers attempting to push through resistance.
Santiment data also points to a notable increase in daily volatility, which has climbed to roughly 4.2%. While greater volatility can create opportunities for further gains, it also increases the potential for sharp reversals.
Whales and Spot Buyers Strengthen the Bullish Case
Whale activity provides another positive signal. Virtual Futures Average Order Size data shows clusters of larger orders around current price levels, suggesting increased participation from larger market players.
At the same time, VIRTUAL’s Spot Taker CVD indicates that buyers have become more aggressive. After an extended period of relatively limited directional activity, spot buyers appear to be taking more sell-side liquidity.
Together, the volume expansion, larger orders and stronger spot demand suggest that the latest advance is attracting broader participation.
VIRTUAL’s current setup combines several bullish signals, including a move above key EMAs, stronger trading volume, increased whale activity and renewed spot buying.
The immediate test remains around $0.60. A decisive breakout could strengthen the case for a move toward $0.68. Conversely, rejection at resistance could send the token back toward the 20-day and 50-day EMAs.
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For now, buyers appear to have regained control, but VIRTUAL’s ability to sustain momentum above $0.60 will likely determine whether the rally can extend further.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
