VIRTUAL Price Jumps 33%, Can Bulls Push It Beyond $1.18?

VIRTUAL’s rapid price jump to $1.06 in the last 24 hours has become a hot topic, gaining over 33% and crowning a 40% weekly growth. The story here goes beyond just numbers. Multiple key catalysts have created a perfect storm. First, the Virtuals protocol has recently attracted attention after its integration with major AI partners and events like the Ethereum AI Hackathon. Second, Robinhood and Grayscale interest signal improved liquidity.

On the technical end, something even more interesting is happening. We just witnessed a technical breakout above $0.88, this wasn’t a mere blip. Trading volume exploded 688% above its 24-hour average. The MACD histogram flipping positive and the RSI clocking in at 70.57 reveals surging bullish momentum, even though the market is edging toward overbought territory. With things getting this interesting, you cannot miss out on this price analysis.

Virtuals Protocol Price Analysis

Right now, VIRTUAL price stands tall at $1.06, brushing up against resistance after smashing through its previous ceiling at $0.88. Which is now a new support level. The price action has set sights on higher goals, with the $1.18 level as the near-term bull target. And $1.40 positioned as a stretch target if enthusiasm persists. If the price can sustain above $1.05 and avoid sharp reversals, bullish momentum could quickly reignite. 

But, yes, there’s always one, trading is never a one-way street. If VIRTUAL retraces and wobbles under $0.88, it might spark a round of profit-taking to $0.726. Especially with the RSI already bordering on overbought territory.

What should traders watch? Keep an eye on the $1.00 mark. If the broader crypto market stays robust, especially if Bitcoin can defend $110k resistance, then VIRTUAL’s gains could stick. Any drop in sector sentiment, however, could drag the price back toward support.

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