Virtuals Protocol (VIRTUAL) has recently seen a notable 11% rise in the past 24 hours, bouncing from the support of $1.63 to trade at $1.84. 

Despite this upward momentum, the altcoin continues to face challenges from both investor sentiment and market conditions. These factors may impact its potential for sustained growth in the near future.

Virtuals Protocol Loses Investor Interest

After a spike earlier this week, the number of new addresses for Virtuals Protocol has dipped significantly. Currently, new addresses are at a month-and-a-half low, indicating a decline in investor interest.

This suggests that new investors are losing interest in Virtuals Protocol, which could potentially signal a loss of traction for the asset among crypto enthusiasts.

The decrease in new addresses highlights a broader trend that may hinder VIRTUAL’s ability to build sustained momentum. The lack of fresh interest may lead to further consolidation or even price declines.

From a macro perspective, Virtuals Protocol is facing some technical challenges. The Average Directional Index (AD