Cryptocurrency Virtual Protocol (VIRTUAL) Soars to 3-Month Peak Amid Bitcoin's $100,000 Bull Run, Fueling Altcoin Breakout

Cryptocurrency Virtual Protocol (VIRTUAL) Soars to 3-Month Peak Amid Bitcoin's $100,000 Bull Run, Fueling Altcoin Breakout

With a 40% surge in the past 24 hours, VIRTUAL is leading the crypto pack!

This bullish run comes after Bitcoin (BTC) rocketed past the $100,000 mark, triggering a ripple effect across the altcoin market.

VIRTUAL's Rally: No Sign of Slowing Down

Currently trading at an impressive three-month high of $2.14, the VIRTUAL token shows no signs of slowing down. Technical indicators on the daily chart suggest the buying pressure in the market is only strengthening.

One such indicator is VIRTUAL's accumulation/distribution (A/D) line, which is currently trending upwards, signaling immense buying activity. It currently stands at -65.53 million.

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The A/D line evaluates buying and selling pressure by analyzing price movements alongside trading volume. A rising A/D line like this indicates high accumulation among market participants. It suggests that VIRTUAL buyers are steadily increasing demand, pushing prices higher.

Moreover, the altcoin's rising Chaikin Money Flow (CMF) supports this bullish outlook. As of this writing, the momentum indicator sits above the center line at 0.19, indicating significant buying pressure.

The CMF indicator analyzes accumulation and distribution trends by examining price and volume over a set period. A positive CMF reading, as we have now, suggests strong buying pressure and signals a potential continuation of VIRTUAL's upward price momentum.

VIRTUAL: Prepped for a Rally Toward $2.79

Trading at $2.14, VIRTUAL is only a stone's throw away from the resistance level of $2.22. If the buying pressure remains, VIRTUAL could easily flip this resistance into a support floor, setting the stage for a rally toward $2.78, potentially even breaching the $3 mark.

However, it's important to exercise caution. VIRTUAL's Relative Strength Index (RSI) has reached overbought levels, hinting at a possible market correction.

If sell-offs resume, the VIRTUAL token could potentially lose recent gains and plummet to $1.53.

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Disclaimer

This price analysis serves for informational purposes only and should not be taken as financial or investment advice. BeInCrypto is dedicated to delivering accurate, unbiased reporting, but market conditions can change rapidly. Always do your own research and consult with a professional before making any financial decisions.

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• The surging altcoin, VIRTUAL, is experiencing a significant 40% rise in the past 24 hours, outperforming the rest of the crypto market.
• This bullish run follows Bitcoin's breakthrough past the $100,000 mark, causing a ripple effect in the altcoin market.
• Currently trading at a three-month high of $2.14, VIRTUAL shows no signs of slowing down, as indicated by technical indicators.
• An upward trend in the VIRTUAL's accumulation/distribution (A/D) line suggests substantial buying activity, with the line currently standing at -65.53 million.
• The rising Chaikin Money Flow (CMF) also supports the bullish outlook, indicating significant buying pressure, with the momentum indicator reading 0.19 as of this writing.
• Currently at $2.14, VIRTUAL is close to breaching the resistance level of $2.22, potentially setting the stage for a rally toward $2.78 or even $3, if buying pressure remains.
• However, it's crucial to exercise caution as VIRTUAL's Relative Strength Index (RSI) has reached overbought levels, hinting at a possible market correction that could lead to a decline and a loss of recent gains, potentially down to $1.53.

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