Virtual Protocol (VIRTUAL) Had a Remarkable Comeback in April 2025

Virtual Protocol (VIRTUAL) had a remarkable comeback in April 2025. Since April 9, the token has skyrocketed by over 400%. This sudden surge has sparked optimism and investors’ interest in the VIRTUAL token. However, can the rally sustain for longer, considering the current technical and on-chain signals? Let’s understand the VIRTUAL more below to get a comprehensive understanding.

Weak On-Chain Activity Cautionary

Despite the impressive price performance, the on-chain fundamentals of the VIRTUAL token present a stark contrast. Since the beginning of 2025, user engagement and VIRTUAL Protocol utility have been decreasing.

Active Wallets Surge on Base and Solana

However, in a surprising turn of events, the crypto wallet activity has started to rise. In the past 5 days alone, the number of unique active wallets for VIRTUAL on Base and Solana has seen an increase of 95%. This spike could indicate renewed interest among the users, potentially linked to short-term speculative buying or the deployment of existing agents.

Technical Outlook Signals Short-Term Strength

As of 29 April 2025, the price of Virtual Token (CRYPTO: VIRTUAL) is trading at $1.4488, showing a 3.32% increase, or +0.0465, from the previous close. This upward trajectory is part of a broader surge in the VIRTUAL price, which has seen an increment of over 400% since early April.

From a technical analysis perspective, the VIRTUAL surge that took place after the breakout of the $1.45 resistance is a significant development.

According to the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) both remain in bullish territory. Although RSI indicates that the asset is overbought currently, at 83.9, it has yet to show a definite bearish divergence.

The Chaikin Money Flow (CMF) indicator, stands at a strong +0.23, suggesting a robust capital flow.

Wave Count Suggests a Potential Local Top

For investors, it is best to stay cautious, as the Elliott Wave count signals a complete five-wave upward pattern, suggesting that the ongoing rise could be part of an A-B-C corrective move rather than the start of a new long-term trend. The third wave of the current pattern has extended 3.61 times the length of wave one to a common termination point.

A closer look reveals a bearish divergence forming on the six-hour RSI chart, which indicates an environment of retraction. If a correction begins, the price may fall to the $0.96-$0.97 range before finding new support.

Can VIRTUAL Reach $2.25 Again?

Now, the question is, can the Virtual Protocol (CRYPTO: VIRTUAL) token reach the mark of $2.25 again? Then yes! Only if this bullish momentum continues to be like that, and buying pressure remains high. A VIRTUAL token could attempt to retest the $2.25 level last seen in January. To do this, it must hold above the $1.44 support zone and continue to attract active participation and protocol usage.