Interest in artificial intelligence and cryptocurrencies is steadily increasing, influencing price performances significantly. Among the sought-after cryptocurrencies, Virtual Protocol recently reached an all-time high (ATH) before entering a consolidation phase.
Price Decline and Consolidation
Following its ATH of $5.07, the popular AI cryptocurrency, Virtual, experienced a significant 32% drop, entering a serious consolidation phase. As the volatility of the cryptocurrency and selling pressure intensified, stability in prices began to emerge in line with broader market recovery. Currently, it is trading at $3.43, with a 24-hour trading volume of $324.8 million, reflecting a 38% decrease. Open interest has significantly declined from its peak, now at $255.93 million.
Many view the current scenario as part of market behavior, considering it a buying opportunity before prices rise again. Crypto analyst Michaël van de Poppe indicated that Virtual AI Coin presents a profitable opportunity during this price consolidation, suggesting that an $85 profit could be achieved with proper entries. “Traders should observe the $3 level as an optimal entry point,” stated van de Poppe.
Anticipated Resistance Levels
Van de Poppe argues that the $2.50-$3 price range serves as an ideal support level to trigger an 85% rally. He also pointed out that resistance levels at $3.50, $4, and $4.71 will play critical roles in Virtual’s price rally. Importantly, a breakout above $4.71 could propel the token to a new ATH of $5.79.
Analysts emphasize that during this period when Bitcoin $95,975 attempts to climb to $130,000, the current 32% decline of the Virtual Protocol should also be viewed as a buying opportunity rather than a reason to panic.
Van de Poppe advises that investors closely monitor the $3 target and perform their technical analyses and research before entering any trades.