- The failure of the H4 Bullish Order Block promised new lows for virtual price prediction.
- The OBV has been making lower daily lows and the CMF has indicated bearish dominance.
Virtual protocol [VIRTUAL] has been trending downward for the past three weeks. While the pullback a week ago was considered healthy, the loss from the 78.6% Fibonacci retracement level at 2.67 on January 19 was a bearish blow.
Since then, the sellers have compounded the Bulls’ woes. Bitcoin [BTC] Saw increased volatility in the last three weeks.
A BTC pump didn’t take Virtual significantly higher, but the losses from the first dragged Virtuals Protocol and the rest of the Altcoin market down.
Virtual Price Forecast Shows Bearish Turbulence Ahead
Source: Virtual/USDT on TradingView
The Fibonacci Retracement levels were plotted based on the upside the token exhibited in December. At press time, virtual was just above the 100% retracement level.
The failure to hold the 78.6% level has turned the pullback into a downtrend on the daily time frame.
The market structure was bearish and the daily RSI dipped below neutral 50 earlier this month to show that bears had the upper hand. This has not changed.
More worrying was the steady losses on the obv. It made lower lows in January, reflecting steady sales volume.
Source: Virtual/USDT on TradingView
The H4 chart reinforced the bearish outlook. The bullish order block for $2.4 from mid-January has been broken. It is now expected to act as a resistance zone.
The virtual price forecast is a continued downward trend in the coming days.
The CMF was below -0.05 and the breach of the bullish order block meant that $2 will soon be challenged. If overcome, the bears are likely to send prices to the 23.6% southern extension at $1.25.
This level coincided with a horizontal support level at $1.34.
The liquidation heat showed that the $2.2 and $1.95-$1.85 regions were candidates for a bullish reversal. The price action over the past 24 hours showed $2.2 being swept and the liquidation cascade pushing prices lower.
Read virtual protocol [VIRTUAL] Price forecast 2025-26
Bearish pressure was unlikely to relent in the coming days. A move to $1.85 could begin this week. Whether a bullish reversal could occur depends on capital inflows and BTC sentiment.
With BTC below $100K, the virtual price forecast was strongly bearish in the short to medium term.
Disclaimer: The information presented does not constitute financial, investment, trading or any other type of advice and is solely the opinion of the writer
Credit : ambcrypto.com
