VIRTUALS PROTOCOL PRICE ANALYSIS & PREDICTION (May 13) – Virtual Holds Gains While Stuck at $2, Decides The Next Major Move

Following the recent stunning adoption for scalability on AI tokens, Virtuals protocol has expanded and is now growing to become one of the best liquidity providers for its native token over the past month. Last month marked a significant increase in Virtual’s price after three months of broad correction. Charting over 300% gains in three weeks, it eventually lost steam after failing to overcome $1.9 earlier this month. It initiated a sell and pulled back in the second week of this month. Locating support above $1.27, it bounced back and increased to $2.1 last Friday. Since then, the price has remained stuck due to low volatility, and as we can see, it has currently floated at around $2 over the past few days. A strong daily close above yesterday’s high should set the stage for bigger growth to the top before breaking out to a new high. The reverse would be the case if this small, calm phase turns to distribution. This may trigger a serious rollback to the bottom while the supply level increases. In terms of gain, Virtual remains the leader of the market on the monthly scale as per CoinMarketCap metrics. It is up 251% despite the current drop in the crypto space. A continuous increase could put the asset on a major parabolic move on the short-term scale. Virtual’s Key Levels To Watch Source: Tradingview While deciding the next major move at $2, the potential resistance level for a test is $2.65. The next resistance level to watch is $4.13. Crossing over the $5.25 resistance should fuel a big move to a new high. The close level to considered for a pullback is $1.5, although there’s a close support at $1.23. A drive below these price levels could slipped the price to a lower support of $0.846 and $0.63. Key Resistance Levels: $2.65, $4.13, $5.25 Key Support Levels: $1.23, $0.846, $0.63 Spot Price: $2 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image(s): Shutterstock.com

Source: NullTx