- Virtual Bulls did not succeed in defending $ 2.4 and were confronted with rejection during an attempt at recovery.
- The demand for a short spot was encouraging, but may not be sufficient to turn the bearish tides
Virtual protocol [VIRTUAL] Saw a rally of 37.2%on Friday 31 January. This movement was quickly undone, like Bitcoin [BTC] Conversely, from $ 106k and on the $ 99.4k press.
The high influx of virtual in trade fairs that were recently mentioned was a sign of a sale. The $ 2.5 resistance zone was not overcome and the short liquidations above this resistance zone were swept, so that the road was cleared for new lows.
Is virtually about to turn a corner around?
Source: Virtual/USDT on TradingView
The price action indicated a strong downtrend on the daily period. This was persistent in the second half of January, when a bullish reaction of the 78.6% Fibonacci retracement level was quickly withdrawn.
The ATR has noticed high volatility in the past two weeks, accompanied by a considerable capital flow from the market according to the CMF.
The shooting star Kandelaar and the High Trade Volume On 31 January, Beerarish Dominance underlined.
This came after the failure of the former support zones of $ 2.67 and $ 2.4. In general, they indicated that virtually is going to be. In the south, the retracement level of 23.6% at $ 1.25 was the next target.
While the daily life of the bearish reflected, the lower time AfraMaGeigs signaled a momentuma around the corner. The open interest has started in the past hours breaking the downward trend.
Read virtual protocol [VIRTUAL] Price forecast 2025-26
The Spot CVD saw the last 24 hours increase rapidly to indicate the increased spot demand.
The financing figure, which had been negative for the past 24 hours, climbed in a positive area and was indicated a sentiment shift in the short term.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
Credit : ambcrypto.com
