Virtuals Protocol (VIRTUAL) Extends Bullish Run With 15% Rally, Ascending Triangle Breakout Targets $3

Virtuals Protocol (VIRTUAL) extended its bullish run with a sharp 15% rally early Tuesday morning. This quick price surge triggered a technical signal that some crypto analysts believe could boost the digital asset towards higher price targets.

Virtuals Protocol (VIRTUAL) extended its bullish run with a sharp 15% rally early Tuesday morning. This quick price surge triggered a technical signal that some crypto analysts believe could boost the digital asset towards higher price targets.

Ali Martinez, a famous cryptocurrency analyst on X, shared a screenshot of the VIRTUAL/USDT 4-hour chart, highlighting how the trading pair broke through a resistance level as it pulled away from an ascending triangle chart formation.

$VIRTUAL is breaking out, potentially targeting $3! pic.twitter.com/mTbsuscXBD

— Ali (@ali_chartz) May 23, 2024

This bullish breakout for VIRTUAL continues a rally that began in the first week of April, which has seen the cryptocurrency gain about 480% in less than two months, placing it among the top gainers within this period. The latest breakout strengthens crypto traders’ belief in the token’s upside potential, with Martinez predicting VIRTUAL’s next price target at $3.

Meanwhile, TradingView’s data structure suggests that VIRTUAL’s latest breakout could denote a new phase in the current bull run. Focusing on the price movement since the April bounce reveals a pattern where VIRTUAL embarks on a notable rally after every pullback.

Virtuals Protocol: AI and Metaverse Focus

Virtuals Protocol is an AI-focused cryptocurrency that facilitates interactions through its AI and Metaverse protocols. Many analysts predict significant growth for VIRTUAL, considering the increasing awareness on the internet and the potential development of several solutions requiring decentralized AI integration.

Moreover, speculators searching for opportunities in the rising crypto market might find newer cryptocurrencies more interesting, especially during periods of general market rallies.

VIRTUAL traded at $2.35 at the time of writing, according to data from TradingView.