Date: Fri, June 20, 2025 | 12:10 PM GMT
The cryptocurrency market continues to reel under bearish pressure, driven by escalating geopolitical tensions between Israel and Iran. Ethereum (ETH), one of the leading assets, has declined sharply from its monthly high of $2,877 to nearly $2,550, dragging several altcoins down with it. Among them is Virtuals Protocol (VIRTUAL).
VIRTUAL has recorded a weekly drop and is now down more than 10% on the month. But amid this sea of red, a bullish technical setup is beginning to take shape — one that could signal a short-term reversal.
Harmonic Pattern Hints at Upside Move
Zooming into the 2-hour chart, VIRTUAL is currently forming a textbook Bearish Bat harmonic pattern, a formation often associated with forecasting bullish continuation up until the “Potential Reversal Zone” (PRZ) is reached.
In harmonic trading, the Bat pattern typically consists of five key points: X, A, B, C, and D. The current chart suggests that VIRTUAL has completed legs XA, AB, and BC, and is now building out the final CD leg — a leg that historically leads to upside momentum until it hits the PRZ.
In this scenario, the PRZ lies between $1.9674 (0.886 Fibonacci level) and $2.0102 (1.000 Fibonacci extension) — signaling a potential 13–16% upside from current levels around $1.72, before encountering major resistance.
What’s Next for VIRTUAL?
The next key move for VIRTUAL will be a break above the 50-period moving average, which currently sits just overhead. If this resistance level is breached, it could spark a rally that takes VIRTUAL toward the $1.96–$2.01 zone — completing the harmonic pattern and offering potential short-term profits for pattern traders.. But caution is warranted — the PRZ often acts as a short-term top where profit-taking and temporary selling pressure emerge.
While the technical setup is promising, confirmation remains essential — especially in the current uncertain global environment, as setups like harmonic patterns often fail on smaller timeframes.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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