- Virtual Protocol (VIRTUAL) has surged over 11% in the past 24 hours as the broader crypto market recovers from Thursday's sell-off triggered by political tensions between Elon Musk and Donald Trump.
- A Bearish Cypher harmonic pattern is forming on VIRTUAL's 4-hour chart, with the pattern progressing through key points from $2.58 peak to $1.60 low.
- The pattern's target zone for completion lies between $2.37 and $2.58, representing a potential 27% to 38% upside from current levels.
- If bulls push VIRTUAL into the $2.37-$2.58 resistance zone, it could trigger additional buying interest from technical traders and automated systems tracking harmonic setups.
Date: Sat, June 07, 2025 | 05:36 AM GMT
The broader cryptocurrency market is bouncing back after Thursday’s steep sell-off, which was triggered by rising political tensions between Elon Musk and Donald Trump. This unexpected clash weighed heavily on market sentiment, dragging Bitcoin (BTC) down to a low near $100,430 and Ethereum (ETH) to $2,387. Since then, both have recovered—BTC is back near $105K and ETH is hovering around $2,500—restoring confidence in the altcoin space as well.
Among the top altcoins showing signs of revival is Virtual Protocol (VIRTUAL), which has not only turned green but surged by over 11% in the past 24 hours. And according to the charts, this might just be the beginning.
Bearish Cypher Harmonic Pattern in Play
Zooming into the 4-hour chart, a Bearish Cypher harmonic pattern appears to be unfolding—a formation often associated with short-term bullish momentum before an eventual reversal.
- The pattern kicked off from the peak at $2.58 (point X)
- Dropped to $1.80 (point A)
- Rebounded to $2.08 (point B)
- Then made a final leg lower to $1.60 (point C)
Following this drop, VIRTUAL has begun climbing again, signaling the start of the final D leg of the pattern. The target zone for point D lies between $2.37 and $2.58, which coincides with the 78.6% Fibonacci retracement of the XC leg and the 100% extension—key areas commonly watched by harmonic pattern traders.
If this pattern completes, VIRTUAL could see a further 27% to 38% upside from current levels.
What’s Next for VIRTUAL?
The upcoming trading sessions will be crucial for confirming the pattern. If bulls manage to push the price into the $2.37–$2.58 resistance zone, it could trigger more buying interest—especially from bots and technical traders tracking harmonic setups.
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