Following a notable market recovery in the past hours, Virtual’s price is up again as it posts double-digit gains. While it currently looks poise for a fresh break up, the price is still trapped in a consolidation. Looking back from where the price started to pick up last month, we can say Virtual has recovered well from the first quarter’s wide-corrective phase. This brought the bulls back in the market, but they appeared stuck after failing to push above the $2.3 level earlier this month. The buying pressure dropped and the market stayed calm with choppy price actions. Several bullish attempts to sustain momentum have proven abortive daily due to a steady shrink in the trading volatility. However, the price appears strong today due to an overnight recovery in the global market cap, and is now looking poise to breakout of the tight trading consolidation phase. The mentioned monthly rejected high is considered a key level to watch for a break up. A clear break above it should activate a major leg up to the yearly high, bringing a full recovery in the market. Currently, there are no signs of bears in the market. If they overpower the bulls in the ongoing build up, we may see a drop capable of causing a major meltdown in the market. But from the look of things, the price will likely go more bullish than bearish in the next few days. As of now, the bulls are committed to the latest price actions Virtual’s Key Levels To Watch Source: Tradingview Once the bulls managed to overcome the monthly $0.23 high, their next target would be $2.65 and $4.13. Reclaiming the yearly $5.25 high could rally the price hard to a new high. In the meantime, the $1.65 level should continue to provide support. If it fails, Virtual may revisit the $1.23 and $0.846 levels for support. Key Resistance Levels: $2.65, $4.13, $5.25 Key Support Levels: $1.65, $1.23, $0.846 Spot Price: $2.2 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
