Virtuals Protocol gains 28% in a day: Should you expect more gains?

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  • High relative strength for VIRTUAL against the rest of the market was a sign.
  • Prices could target $5.4 in the coming weeks.

As a seasoned crypto investor with a knack for spotting hidden gems, I must say that the recent performance of Virtuals Protocol (VIRTUAL) has caught my eye like never before. The token’s meteoric rise of 28.68% in a single day and its resilience during the market sell-off are clear indicators of strong underlying fundamentals.

In the last 24 hours, Virtuals Protocol (VIRTUAL) has surged by an impressive 28.68%. This AI-related token continues to soar without a hitch. At this moment, its trading volume has increased significantly by 102%, reaching approximately $402 million as per the latest data from CoinMarketCap.

On Monday, 23rd December, numerous alternative cryptocurrencies (altcoins) showed impressive performance. Among these, VIRTUAL was one of the most talked-about coins due to its proximity to price exploration, even amidst the market’s volatility over the past week.

Virtuals Protocol prices target $5.4

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The token’s market cap was $3.2 billion and could grow significantly during a bull run. Its resilient performance in the past week was notable despite a market sell-off.

Over the past month, the Old-Blue Value (OBV) has been exhibiting a pattern of successively higher peaks and troughs, suggesting robust buying interest. Additionally, the price itself has displayed rising bottoms, underscoring an upward trend. Furthermore, the Relative Strength Index (RSI) stands at 62, signaling a buildup of bullish momentum.

In contrast to the price climbing higher currently, the Relative Strength Index (RSI) has been creating lower peaks in the last week. If the daily session closes above $2.95, it might suggest a bearish divergence. This suggests that the market may be overextended, but a pullback might not occur immediately. Instead, there’s a possibility that the token could surpass $3.32 before experiencing a decline in its value.

If the demand continues to be robust, it’s possible that we won’t see a correction, since not every divergence necessarily results in significant price declines.

Relative strength was a key argument

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In December, the total value of all altcoins, excluding Ethereum [ETH], has shown a consistent decline. However, there were signs of recovery starting from Monday. Nevertheless, the overall trend remains negative or bearish.

Is your portfolio green? Check the Virtuals Protocol Profit Calculator

Over the past seventeen days, while the overall altcoin market plummeted by 17%, I found myself reaping impressive returns with my investment in Virtuals Protocol, as its prices surged an astounding 90%. This significant outperformance against the general market trend served as a strong indication that further gains for VIRTUAL were imminent.

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2024-12-25 03:03