Date: Fri, February 14, 2025 | 12:42 PM GMT
The cryptocurrency market is showing signs of recovery after weeks of correction, with Bitcoin dominance dropping by 1.92% over the past seven days to 60.68%. This suggests that altcoins might be preparing for a rebound.
Following this,, Virtuals Protocol (VIRTUAL) and Flow (FLOW) are gaining momentum with impressive weekly gains after suffering deep corrections—49% and 41%, respectively, in the past two months.
Now, both tokens are at key resistance levels within their falling wedge patterns, hinting at potential breakout opportunities.
Virtuals Protocol (VIRTUAL)
VIRTUAL has been consolidating within a falling wedge pattern after reaching its all-time high of $5.12 on January 2. The price dropped sharply, hitting a low of $1.05, where it found strong support at the 200-day moving average (200 MA)—which also aligns with the wedge’s lower trendline.
Currently, VIRTUAL is trading at $1.41 and is approaching the upper trendline of the wedge. If it successfully breaks above this resistance, along with its 15-day simple moving average (SMA) and confirms support on a retest, it could trigger a strong rally.
The first major resistance level to watch is $2.08, followed by $2.61. A breakout above these levels could mark a potential 91% gain from the current price.
The MACD (Moving Average Convergence Divergence) shows early signs of bullish momentum, with the MACD line attempting a crossover above the signal line. Volume is gradually increasing, suggesting renewed buying interest.
Flow (FLOW)
FLOW has been trending within a falling wedge since its December 4 high of $1.27. The correction sent FLOW to a low of $0.39, where it found strong support at the wedge’s lower trendline.
Now, FLOW is trading at $0.52, making its way toward the upper wedge resistance. If it manages to break above this level and confirm support, the next major resistance will be the 25-day SMA. A successful breakout could propel the price higher.
The key upside targets are $0.67 as the first resistance level, followed by $0.80 as the next major hurdle. A move toward these targets could mean a 56% upside from current levels.
The MACD shows early bullish divergence, indicating a possible shift in trend. Volume is picking up slightly, suggesting accumulation.
What’s Next?
With VIRTUAL and FLOW nearing critical breakout points, traders should closely watch their price action. A breakout from the falling wedge pattern in either token could signal the start of a strong upward trend. However, the broader market trend—including Bitcoin’s dominance and overall sentiment—will play a key role in determining the success of these breakout attempts.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.
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