#VIRTUALWhale

At the time of writing, Virtuals Protocol (VIRTUAL) price hovered near $1.29, down from highs of $3.95 in mid-January.

In the past 24 hours, the token touched an intraday low of $1.18.

Moreover, the market cap has shrunk to $759 million, way off the recent peak of $3.8 billion.

While the daily chart shows the VIRTUAL/USD pair is currently largely bearish, key indicators suggest a potential bullish flip.

The Relative Strength Index is at 30 to indicate oversold conditions.

Meanwhile, the Moving Average Divergence Convergence (MACD) line is below the signal line.

Nonetheless, the histogram suggests a weakening of the bearish resolve and the MACD points to a possible bullish crossover.

VIRTUAL price may also benefit from bullish strengthening as the Average Directional Index suggests.

If buyers reemerge, Virtuals Protocol could reclaim $2 and target the recent peak.

However, if bearish conditions persist, it could drop to support at $0.52.