Will VIRTUAL Market Cap Hit $10 Billion After Recent 15% Drop?
VIRTUAL is the cryptocurrency that leads the narrative of artificial intelligence agents in the market. Its market value briefly exceeded US$5 billion on January 2. Like the market cap, VIRTUAL price also hit an all-time high, breaking out of the $5 period around the same time.
However, the recent gains were short-lived, with the coin price falling by 15.20% in the past 24 hours. Here’s a detailed analysis of the factors behind the rapid pullback and what might happen in the future for VIRTUAL.
Virtual agreement sales pressure halts rise
On January 1, the market value of Virtual Protocol was US$3.87 billion. yesterday it Climb so high $5.05 billion. However, as of this writing, things have changed and the virtual market cap has dropped to $4.28 billion.
Market capitalization is the product of circulating supply and price. Therefore, when any of these increases or decreases, it affects the market cap of the cryptocurrency. For VIRTUAL, a total supply of 1 billion tokens is already in circulation.
Therefore, as shown below, the decline in this indicator may be due to the price falling from $5.05 to $4.28 in the past 24 hours. Furthermore, if Altcoin Value Continuing its decline, the protocol’s market capitalization risk follows a similar direction.
Judging from BeInCrypto’s findings, this double-digit decline may be related to Significant profit taking From the holder. Santiment data shows that on January 1, the profit on the chain was 5.95 million. This indicator measures the level of profit achieved during a given period. But on January 2, that is the same window, VIRTUAL climbs to new all-time highthe profit amount rose to 6.56 million.
At current prices, this would mean profits for VIRTUAL holders of over $28 million. While today’s profit-taking hasn’t reached that level yet, further rate hikes could cause its market capitalization and price to fall further.
Virtual price prediction: continued decline before rebound
On the 4-hour chart, virtual retracement According to the relative strength index (relative strength index). RSI is a technical indicator that measures momentum and also checks whether an asset is overbought or oversold.
A reading above 70.00 indicates overbought, while a reading below 30.00 indicates oversold. On January 2, the RSI indicator rating on the Virtual/USD chart hit 79.87, forcing a correction in price.
But beyond that, the Super Trend Indicator Plays a key role in discovery and purchase and sales territory, with overhead resistance at $5.15. If the red portion of the supertrend holds above the virtual price, the altcoin could drop to $3.85.
On the other hand, this trend may change if the bulls manage to push the price above the $5.15 resistance. In that scenario, The virtual market capitalization may exceed 6 billion, the price could be closer to $7.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
