- Virtuals Protocol (VIRTUAL) gained over 26% today after successfully retesting its falling wedge breakout pattern.
- The token experienced an 846% rally from $0.54 to $5.17 between late November and early January before entering a correction phase.
- VIRTUAL broke out of its falling wedge pattern on February 14 and is now finding support at the 200-day moving average around $1.29.
- A break above the 25-day MA resistance could lead to rallies toward $2.08 and $2.61, representing over 97% upside potential from current levels.
Date: Fri, February 21, 2025 | 02:49 PM GMT
In the cryptocurrency market this week, major altcoins have started to make upside moves after facing a correction phase following the rally witnessed in November 2024.
Following the current momentum, Virtuals Protocol (VIRTUAL)—the platform specializing in AI agents—is in the spotlight today with impressive gains of over 26% after its recent breakout and successful retest.
Meanwhile, the token had undergone a major correction in the last 30 days, which has now narrowed to 57%, and the current technical setup could help it stage a recovery.
Retests Falling Wedge Breakout
From late November to early January, VIRTUAL experienced an explosive 846% rally, surging from $0.54 to a peak of $5.17 on January 2. However, after this massive uptrend, the price entered a correction phase, forming a falling wedge pattern. Recently, on February 14, VIRTUAL successfully broke out of the wedge’s descending trendline, reaching a short-term high of $1.49 before pulling back for a retest of the breakout trendline at $0.96.
Following this successful retest, VIRTUAL has gained momentum, bouncing to $1.29 while finding support at the 200-day moving average (MA). The next key resistance is the 25-day MA, and a move above this level would confirm the recovery rally, potentially leading to the next resistance levels at $2.08 and $2.61—representing an upside of over 97% from current levels.
Additionally, the MACD indicator is showing early signs of a potential bullish crossover, which could indicate a momentum shift in favor of the bulls.
What’s Next for VIRTUAL?
With strong technical support and growing buying momentum, VIRTUAL is showing early signs of a reversal. If the price holds above key levels and breaks through the 25 MA resistance, it could mark the beginning of a stronger rally toward previous highs.
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