Date: Wed, July 02, 2025 | 03:37 PM GMT
The cryptocurrency market is gaining upside momentum today, with Ethereum (ETH) leading the charge — rallying nearly 3% to trade around $2,500, which is boosting sentiment across major altcoins.
Among them, Virtuals Protocol (VIRTUAL) has surged over 5%. But beyond the green candles, the chart suggests that VIRTUAL is at a key decision point as it retesting a recent breakdown.
Retesting Bearish Pennant Breakdown
On the 4-hour chart, VIRTUAL recently broke down from a bearish pennant pattern, a formation often signaling the continuation of a prior downtrend. After a sharp decline in late June, price consolidated in a tightening wedge, forming lower highs and higher lows—a classic pennant structure.
Now, VIRTUAL is retesting the underside of the broken pennant, an area that previously acted as support but is now functioning as resistance. This level coincides closely with the 100-period moving average, currently sitting around $1.57, making it a key decision zone for price action.
What’s Next for VIRTUAL?
At the moment, VIRTUAL is hovering around the $1.57 mark, where both the broken trendline and 100 MA converge—creating a strong resistance cluster. A rejection from this zone would confirm the breakdown and likely trigger further downside pressure, with a potential first downside target of $1.41 in the short term.
However, if buyers manage to reclaim $1.63, breaking above both the trendline and the 100 MA, this would invalidate the bearish setup and could open the door to a bullish reversal in the short term.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research and consult with a professional before making investment decisions.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
