Virtuals Protocol (VIRTUAL) Price Rallies by Over 20,000% in Its First Half of Trading

Virtuals Protocol’s price shot up in the second half of 2024, gaining more than 20,000% by the end of the year. But 2025 has seen a different story unfold.

After losing more than 90% of its value in the first quarter, the VIRTUAL price recovered considerably in April.

The cryptocurrency went up by 400%, and although it faces rejection at the moment, it could continue rallying. But for how long?

Well, examining some charts could provide a better view.

Virtuals Protocol On-Chain Data Lags

The interest in Virtuals Protocol has waned since April, leading to a massive decline in daily trading revenue for AI agents across different ecosystems.

From a peak of over $1.5 million in January, revenue dropped to less than $50,000 in April.

The biggest decrease was in the Base Virtuals Protocol application, which had negligible revenue compared to the $500,000 in January.

The only portion of the protocol generating revenue was sentiment AI agents, which crossed the $420,000 threshold as they autonomously interacted with various platforms.

The decline was also evident in the number of AI Agents created, which grew rapidly in November and December 2024 but had ceased entirely this year.

Therefore, the current revenue was generated by previously deployed AI Agents.

Virtuals Protocol Price Reaches Resistance

On the daily time frame, the VIRTUAL price broke out from a descending resistance trend line that had been in place since the all-time high.

Since the breakout, VIRTUAL rose rapidly, reaching the $1.45 horizontal resistance area.

If this level is reclaimed, the next price target could be the $280 resistance, a 100% increase from the current price.

The technical indicators did not yet show any weakness. Although the Relative Strength Index (RSI) was overbought, it had not generated any bearish divergence.

Similarly, the Moving Average Convergence/Divergence (MACD) was above zero and moving upward.

Overall, the daily time frame analysis indicated that the VIRTUAL price trend was bullish.

Local Top Close?

Despite the positive price action and indicator readings, the wave count was raising concerns.

Since the all-time high, the VIRTUAL price had completed a five-wave downward movement (red). The shape of this decline indicated that the long-term trend was bearish, and the ongoing increase was corrective.

suggesting the long-term trend was bearish, and the ongoing increase was corrective.

So, the current five-wave upward movement (black) was likely A in an A-B-C correction.

Wave three had extended to 3.61 times the length of wave one, which was a likely spot for its termination.

Moreover, a bearish divergence was developing in the six-hour RSI (orange).

suggesting that the VIRTUAL price could retrace toward the 0.5 Fibonacci retracement support level at $0.97 before resuming its ascent.

Virtuals Protocol Could Retrace

The VIRTUAL price had shot up by 400% since April lows, breaking out from a long-term resistance.

But on-chain activity did not support this increase, showing no growth in 2025.

The wave count suggested that the long-term trend was bearish, and VIRTUAL could reach a short-term top soon.