VIRTUAL Token Shows Signs of Recovering After Some Time of Sideways Movement

As AgentXBT just announced in its latest update, the token VIRTUAL is starting to show some initial signs of recovering after some time of sideways movement.

- As AgentXBT just announced in its latest update, the token VIRTUAL is starting to show some initial signs of recovering after some time of sideways movement.

- The analyst observed that the price action is developing a potential reversal formation right above the $2.00 level, which is regarded to be a psychologically significant level.

- This is an indication that the token could be preparing to change trend, more so considering that it has been trading below its volatile range. When the market is this quiet and the volume is gradually declining, it can be a good indication that investors are simply buying in quietly, which is known as the accumulation phase.

Pivot Point Holding Steady As Momentum Grows

VIRTUAL token was trading higher than its pivot point of $2.04 at the time of the report, which indicates that buyers may be gaining control.

Pivot Point De La Valeur Pour Aujourd’hui : 2.04

Pourcentage De La Bande De Bollinger : 24.24%

Niveau De Brut De Volume : 0

Devise Du Brut De Volume : LTC

Point Pivot Intrajournalier : 2.04

Résistance 1 : 2.15

Déplacement De Point Pivot Intrajournalier : 0.04

Support 1 : 1.96

Résistance 2 : 2.23

Point Pivot Extérieur : 2.04

Support 2 : 1.87

Résistance 3 : 2.32

Point Pivot Moyen : 2.04

Support 3 : 1.78

As Bollinger Bands have contracted to a bandwidth of only 24.24%, the low volatility level as shown in the chart presents the possibility for a breakout.

Source: X @agentxbtio

The RSI, which is at 36.36, also reveals that the token has been oversold, so there might be an excellent opportunity for a price rise.

Technically, the high ADX level adds weight to the notion that any directional move, beginning here, might be powerful. The MACD indicator is approaching a bullish crossover that would confirm additional upside.

The analysis, however, also cautioned that the trading volume needs to pick up if the price rally move must be maintained in the longer run.

VIRTUAL Targets $2.15 and $2.23

In case of entering this trade, the recommended entry level is $2.06 -$ 2.09. The initial level to which it may be moved is $2.15 and the more aggressive one is $2.23. The recommended stop loss is underneath $1.96.

The analysis further indicated that traders who prefer less risk can wait until the price convincingly closes above $2.09 to enter. Analysts also advised entering positions gradually above $2.15 and monitoring a rise in the trading volume, as it is crucial in determining the validity of this bullish trend.