VIRTUAL Plunges 7% After Reaching a New ATH of $3.71
- VIRTUAL is currently trading at $3.45, with a market cap of $3.46 billion.
- The 24-hour trading volume stands at $320.64 million, reflecting a slight decline.
Virtuals Protocol (VIRTUAL) reached a new all-time high of $3.71 before retreating 6.25%. The token is currently trading at $3.45 with a market cap of $3.46 billion, marking a 6.35% drop over the past 24 hours.
The 24-hour trading volume is $320.64 million, reflecting a slight decline of 1.48%. With a fully diluted valuation (FDV) matching its market cap, VIRTUAL has a circulating supply of 1 billion tokens, equating to its total and maximum supply. The market cap ratio stands at 9.3%, indicating strong liquidity.
Key Levels and Market Indicators
On the daily chart, VIRTUAL faces resistance at $3.72 and finds support near $3.18. If the price surpasses $3.72, it could test $4.00. Conversely, a breakdown below $3.18 may push the token towards $2.74.
The Relative Strength Index (RSI) is at 66.24, signaling a bullish momentum. However, the RSI average at 65.87 suggests the trend could consolidate soon. Moving averages (MA) indicate a positive trajectory, with the 9-day MA at $3.18 and the 21-day MA at $2.74. The crossover of the 9-day MA above the 21-day MA reinforces the bullish sentiment.
The moving average crossover signals potential upside if bullish momentum sustains. Breaking above resistance at $3.72 could lead to price discovery above $4.00. A failure to maintain support at $3.18, however, may shift sentiment toward bearish territory.
The technical indicators show strong market activity, supported by consistent trading volumes. RSI near the overbought zone suggests buyers dominate, but profit-taking could induce short-term corrections.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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