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- VIRTUAL bulls failed to defend $2.4 and faced rejection during an attempted reclamation.<\/em><\/li>\n
- The short-term spot demand was encouraging but might be insufficient to turn the bearish tides<\/em><\/li>\n<\/ul>\n
Virtuals Protocol [VIRTUAL]<\/a> saw a 37.2% rally on Friday the 31st of January. This move was quickly undone<\/a>, as Bitcoin [BTC]<\/a> reversed from $106k and was trading at $99.4k at press time.<\/p>\n
The high inflows of VIRTUAL into exchanges noted recently was a sign of a sell-off<\/a>. The $2.5 resistance zone wasn\u2019t overcome, and the short liquidations above this resistance zone were swept, paving the way for new lows.<\/p>\n
Is VIRTUAL about to turn a corner?<\/h2>\n
![\"Virtuals](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/PP-3-VIRTUAL-price.png\")
<\/a><\/p>\nSource: VIRTUAL\/USDT on TradingView<\/p>\n<\/div>\n
The price action indicated a strong downtrend on the daily timeframe. This has been persistent in the second half of January, when a bullish reaction from the 78.6% Fibonacci retracement level was quickly retraced.<\/p>\n
The ATR noted high volatility in the past two weeks, accompanied by significant capital flow out of the market according to the CMF.<\/p>\n
The shooting star candlestick and the high trading volume on the 31st of January underlined bearish dominance.<\/p>\n
This came after the failure of the $2.67 and $2.4 former support zones. Overall, they indicated that VIRTUAL is headed lower. To the south, the 23.6% retracement level at $1.25 was the next target.<\/p>\n
- The short-term spot demand was encouraging but might be insufficient to turn the bearish tides<\/em><\/li>\n<\/ul>\n
![\"VIRTUAL](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/PP-3-VIRTUAL-coinalyze.png\")