VIRTUAL Price Soars 18% as AI Coins Recover
The post VIRTUAL Price Soars 18% as AI Coins Recover appeared on BitcoinEthereumNews.com.
VIRTUAL price has surged over 18% in the last 24 hours, reclaiming its $2 billion market cap as AI coins recover from the recent correction. Despite this rally, technical indicators like the ADX and BBTrend highlight ongoing challenges, with momentum still weak and selling pressure yet to dissipate fully. Key levels, including the $2.81 support and $3.27 resistance, will determine whether VIRTUAL can sustain its upward momentum or face renewed bearish pressure. VIRTUAL Downtrend Has Lost Its Steam VIRTUAL ADX has dropped to 16.3 from 26.8 in the last two days, indicating a significant weakening in trend strength. An ADX below 20 generally signifies a lack of a strong trend, suggesting consolidation or market indecision. This decline in ADX reflects that the ongoing attempt to transition from a downtrend to an uptrend lacks sufficient momentum to establish a clear directional move. VIRTUAL ADX. Source: TradingView The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction. Values below 20 signal a weak trend and above 25 reflect a stronger, more defined trend. VIRTUAL current ADX at 16.3 suggests that while it is trying to shift into an uptrend, the trend is not yet solidified. For a clear confirmation of an uptrend, the ADX would need to rise above 25, accompanied by sustained buying pressure to build stronger momentum, as the hype around crypto AI agents recovers its momentum. VIRTUAL BBTrend Stays Negative Since January 7 VIRTUAL’s BBTrend has been negative since January 7, recently peaking at -37.2 yesterday before recovering to -24.4. Although still in negative territory, the improvement suggests that bearish momentum is easing. This shift indicates a potential stabilization in VIRTUAL price, though the negative BBTrend highlights that selling pressure still outweighs buying activity. VIRTUAL BBTrend. Source: TradingView The BBTrend, or Bollinger Band Trend,…
Filed under: News - @ January 16, 2025 4:26 am