VIRTUAL Price Drops 15% as AI Coin Market Faces Correction
VIRTUAL price had the biggest decline among major altcoins in the past 24 hours, falling 15% and extending its seven-day loss to 43%. The sharp drop brought its market capitalization down to about $1.5 billion, as nearly all large AI tokens faced significant corrections in the last week.
Key indicators such as relative strength index BBTrend and BBTrend highlighted oversold conditions, suggesting that while bearish momentum remains strong, there is still potential for recovery. With VIRTUAL hovering near key support at $2.23, its next move could determine whether it rebounds or risks falling further to $1.20, marking a potential 48% correction.
Virtual RSI hits 5-month low
virtual The RSI is currently at 27.3, rebounding slightly after hitting a low of 18.7 a few hours ago. These levels mark VIRTUAL’s lowest RSI readings since August 2024, signaling severe oversold conditions. RSI (Relative Strength Index) is a momentum oscillator that ranges from 0 to 100 and is often used to assess whether an asset is overbought or oversold.
Typically, an RSI below 30 indicates oversold conditions, suggesting a possible price rebound, while an RSI above 70 indicates overbought conditions, suggesting a possible pullback.
VIRTUAL’s RSI is currently at 27.3, indicating that the asset remains in oversold territory. This could mean a short-term price recovery may be imminent, as oversold conditions tend to attract buyers looking for discounted entry points.
However, if the bearish momentum persists, virtual prices may still come under pressure, losing more of the largest seats AI coin.
VIRTUAL BBTrend is breaking negative records
VIRTUAL’s BBTrend is currently at -35.8, its lowest level since August 8, 2024. The indicator has remained negative for six consecutive days, reflecting continued bearish pressure. BBTrend (Bollinger Bands band Trend) is a metric derived from Bollinger Bands that is used to measure market trends and momentum.
Positive values typically indicate bullish conditions and upward price momentum, while negative values indicate bearish conditions and downward pressure.
VIRTUAL’s BBTrend is -35.8, an indicator that points to a strong bearish trend and increasing selling pressure. Levels this low typically indicate that the asset is severely oversold, which could set the stage for price stability or recovery if buying interest increases.
However, if BBTrend remains negative and continues to fall, it could signal further downside for VIRTUAL, especially if broader market conditions remain unfavorable.
Virtual Price Forecast: A further 48% drop?
VIRTUAL’s EMA line recently formed a death cross, a bearish technical signal in which the short-term moving average crosses below the longer-term moving average.
This suggests that downside momentum has increased, with virtual prices currently sitting at the basic support level of $2.23. If this support fails, the price could plummet to $1.20, which could represent a 48% retracement from current levels. This will cause the virtual market capitalization to lose the $1 billion market capitalization threshold, thereby distancing the token from other tokens. artificial intelligence password Just like RENDER and TAO.
On the other hand, if market sentiment revolves around Crypto AI Agent Improves and the virtual price establishes an uptrend, the price may rebound and test the $2.81 resistance.
A break above this resistance could allow VIRTUAL price to regain momentum and move back towards $3.27, marking a recovery from its recent bearish performance.
Disclaimer
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