based on the material from the site - By CoinsProbe

The cryptocurrency market continues to face strong selling pressure. Ethereum (ETH), which recently tested resistance around $3940, has fallen to $3460, indicating a daily drop of 5%. This pullback has affected the entire altcoin market: today, Virtuals Protocol (VIRTUAL) fell by 2%, erasing its entire monthly gain and now stands at 29%.

Although some assets show signs of stabilization, the daily chart of VIRTUAL indicates that the sell-off may not yet be over.

On the daily chart, VIRTUAL is forming a bullish harmonic pattern ABCD—a structure that, despite its 'bullish' name, often leads to a deeper decline before any reversal can take shape. The pattern began at point A (~$2.58), sharply declined to point B, and then bounced back to point C (~$1.95) at the end of July. Since reaching point C, the price has been steadily declining, marking the beginning of the CD phase—usually the last phase before the pattern completes.


Currently, VIRTUAL is trading around $1.18, and if the pattern completes as expected, the Fibonacci extension of line BC at the level of 1.81 indicates a potential reversal zone (PRZ) around $0.69. This means that VIRTUAL may face a potential decline of up to 41% from current levels before finding a solid support base.

What awaits VIRTUAL next?
If the CD phase continues to develop, VIRTUAL may continue to decline towards the projected support zone around $0.69. This level is considered technically significant and may attract buyers, especially traders using harmonic patterns looking for a bounce from the PRZ.

However, the overall market context remains cautious, and the structure of VIRTUAL's stock remains bearish as long as the price stays below the 200-day moving average, which currently stands at $1.44. Any sustained breach of this level will be required for a change in sentiment.


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