Virtual Protocol (VIRTUAL) is currently trading at approximately $1.32, with a daily high of $1.44 and a low of $1.26.
Recently, VIRTUAL experienced a significant liquidation event, with $8,524.60 in long positions liquidated at a price of $1.28619. This suggests that many traders had anticipated a price increase but were forced to close their positions as the price declined.
In December 2024, VIRTUAL reached an all-time high of $3.29 but has since corrected by over 50%. Analysts believe that the $1.815 level is a critical support zone. If the price retests this area and holds, it could signal a potential reversal, with medium-term targets around $4.00.
Given the current price of $1.32, entering a position near the $1.30 level could be considered a buying opportunity. Setting a stop loss slightly below the critical support at $1.80, for example at $1.75, would help manage potential downside risk. The medium-term target remains at $4.00, offering a favorable risk-to-reward ratio.
It's important to note that the cryptocurrency market is highly volatile. Prices can fluctuate rapidly, and while technical analysis provides insights, it does not guarantee future performance. Always conduct thorough research and consider your risk tolerance before making investment decisions.