The virtual (virtual) protocol has recently witnessed a remarkable increase by 11 % over the past 24 hours, as it increased from $ 1.63 trading at $ 1.84.
Despite this upward momentum, Altcoin continues to face challenges from both investor morale and market conditions. These factors may affect their potential for continuous growth in the near future.
The virtual protocol loses the interest of the investor
After a rise earlier this week, the number of new addresses of the assumption protocol decreased significantly. Currently, the new addresses are low month and a half, indicating a decrease in the interest of investors.
This indicates that new investors lose interest in the virtual protocol, which can indicate the traction of the asset between encryption fans.
The decrease in the new addresses highlights a wider direction that may hinder Virtual’s ability to build a constant momentum. Lack of new interest may lead to more monotheism or even low prices.
From a macro perspective, the virtual protocol faces some technical challenges. The average trend index (ADX) shows a sharp decrease, which may indicate poor momentum.
ADX remains above the 25.0 threshold, indicating some strength in the current direction.
However, it is at risk of slipping without this level. If this happens, it can indicate that the last upward trend loses its strength. ADX, the delted, in addition to lower levels of the new address activity, notes that the virtual protocol may soon face a shift in the direction of prices.
maybe
Currently, the Virtuals Protocol is traded at $ 1.84 after an increase of 11.4 % over the past 24 hours. The price is currently facing resistance at $ 1.93, which may be a challenge for more upward movement.
While the last bounce of $ 1.63 is promising, overcoming $ 1.93 is still a decisive test for Altcoin prices in the short term.
If the aforementioned factors continue to affect the market negatively, Virtual may struggle to violate the resistance of $ 1.93. This may lead to a period of monotheism, as the price is likely to remain higher than the support level of $ 1.63.
However, if the pressure pressure is intensified, the price may decrease below this support, and it may reach $ 1.50 or even less.
On the other hand, if the wider market conditions turned up, the virtual protocol can exceed $ 1.93. The successful stirring of this level to the support floor will be very important for Altcoin to target $ 2.00.
Moreover, it will become $ 2.45 the next main resistance, indicating a reflection of the landing thesis and opening the door for other gains.
Disintegration
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