VIRTUAL price has taken a significant hit recently, plummeting 58.7% over the past month and 15% in the last 24 hours. With its market cap now at $1.23 billion, there is a noticeable decline as bearish momentum gains strength.
The latest data from technical indicators paints a bearish picture, with the ADX on the rise, confirming the downward trend, while the BBTrend remains negative, albeit with slight improvement. The future trajectory of VIRTUAL, currently trading below the $2 mark, hinges on its ability to break through resistance for a potential recovery or lose support to extend its decline.
One of the standout AI agent tokens, Virtuals Protocol, has been on a week-long downward trend sparked by the buzz around DeepSeek. The token's ADX, which measures trend strength on a scale of 0 to 100, has spiked to 22.5 from 15.3 in just a day, indicating a strengthening trend towards the downside.
In the current downtrend of VIRTUAL, the increasing ADX signifies a deepening bearish momentum. A further rise above 25 would solidify the strength of the downward trend, making a turnaround more challenging, while a stabilization or decrease in the ADX could hint at a potential consolidation or reversal in price.
Meanwhile, VIRTUAL's BBTrend has been in negative territory since January 20, though it has slightly improved from its lowest point on January 30. The negative BBTrend value of -15.5 suggests a weakening downtrend, with the potential for stabilization or recovery if the indicator trends closer to neutral.
Looking ahead, if VIRTUAL manages to breach the $1.99 resistance level, it could pave the way for a bullish momentum targeting $2.22 and $2.42. Conversely, a failure to hold the $1.77 support may lead to further downside, with $1.35 emerging as a key level to watch - potentially setting a new low not seen since December 9, 2024.
Hype around crypto AI agents could inject fresh momentum into VIRTUAL, possibly driving a resurgence towards $3.14, a level that has been out of reach in recent weeks. However, a breakdown in support could see VIRTUAL distancing itself further from other AI coins in market cap.