VIRTUAL’s rapid price jump to $1.06 in the last 24 hours has become a hot topic, gaining over 33% and showcasing an impressive 40% weekly growth. However, the story here goes beyond just the numbers—multiple key catalysts have combined to create a perfect storm driving this momentum.
First, the Virtuals protocol has recently attracted significant attention following its integration with major AI partners and participation in events like the Ethereum AI Hackathon. This growing association with AI innovation has certainly boosted investor confidence.
Second, interest from major players like Robinhood and Grayscale signals improved liquidity and wider market acceptance, further fueling optimism around VIRTUAL.
On the technical side, something even more interesting is happening. We witnessed a strong technical breakout above $0.88—not just a fleeting blip. Trading volume exploded, surging 688% above its 24-hour average, indicating heightened market activity.
Key technical indicators also support the bullish case. The MACD histogram has flipped positive, while the RSI stands at 70.57, revealing strong bullish momentum despite the market edging toward overbought territory.
### Virtuals Protocol Price Analysis
Currently, the VIRTUAL price stands tall at $1.06, brushing up against resistance after smashing through its previous ceiling at $0.88, which has now become a new support level. This price action sets sights on higher targets, with $1.18 marked as the near-term bull target and $1.40 positioned as a stretch target if enthusiasm persists.
If the price can sustain above $1.05 and avoid sharp reversals, the bullish momentum could quickly reignite. However, trading is rarely a one-way street. If VIRTUAL retraces and drops below $0.88, it might trigger profit-taking down to $0.726, especially considering the RSI is already nearing overbought levels.
### What Should Traders Watch?
Traders should keep a close eye on the $1.00 mark. If the broader crypto market remains robust, particularly if Bitcoin can defend its $110K resistance, VIRTUAL’s recent gains could hold and even grow.
On the other hand, any weakening in sector sentiment could pull the price back toward support levels.
With so much happening, this price action in VIRTUAL is certainly one to watch closely in the coming days.
https://coinpedia.org/price-analysis/virtual-price-jumps-33-can-bulls-push-it-beyond-1-18/
