- Virtual’s bullish price action breaks key resistance levels, supported by high on-chain profitability.
- Whale activity and technical indicators further strengthened the rally, despite overbought conditions.
Virtual Protocol [VIRTUAL] has captured the market’s attention with a massive 22.19% surge in just 24 hours, trading at $4.90 at press time.
With its market cap rising to $4.89 billion and a trading volume jump of 38.45% to $520.01 million, this token is experiencing rapid momentum.
Investors are now curious—what exactly is driving this extraordinary rally?
VIRTUAL:Climbing the charts
Virtual’s price action is a testament to its strong bullish momentum, as seen on the 4-hour chart.
The token has maintained an ascending trendline, breaking key resistance levels and pushing towards Fibonacci targets at $5.23 and beyond.
However, the slight retreat from $5.00 suggested that some traders were taking profits. Therefore, while the upward trend is clear, a short-term pullback could provide buying opportunities before the next leg up.
Source: TradingView
Bullish momentum remains
The on-chain profit-to-loss ratio stood at a staggering 20.68 at press time, highlighting heightened profitability among traders.
This surge in profitable transactions reflected strong market sentiment, often linked to sustainable upward trends.
This bullish indicator may continue to attract more traders looking to capitalize on VIRTUAL’s momentum. However, elevated profit-taking could trigger brief corrections as the market cools.
