The VIRTUAL token is experiencing a surge in activity and positive technical indicators, signaling a potential bullish breakout.
Market fundamentals strengthened with 1,290 active addresses and a transaction count of 763, worth $2.9 million, from Coinbase, acquiring 851,387 VIRTUAL s, sparking speculation about the token’s future potential.The crypto market is showing mixed trends, but the surge in activity and key metrics of VIRTUAL has captured the attention of traders and analysts alike.At press time, VIRTUAL was trading at $3.57, reflecting a 3.40% rise in the past 24 hours.
The token continued to follow a bullish trajectory within an ascending channel, with key resistance at $3.58. The Directional Movement Index (DMI) showed a strong buying trend, with the +DI at 28 significantly outpacing the -DI at 11. Furthermore, the Average Directional Index (ADX), at 47, indicated robust trend strength. Additionally, the stochastic RSI at 44.47 suggested that the token was nearing overbought territory, signaling potential short-term caution. However, the consistent upward movement indicated momentum, and any corrections could provide opportunities for accumulation.The surge in daily active addresses reflected increasing network activity, with a recent high of 1,290 addresses. This sharp rise indicated growing user engagement, which could stem from speculative interest or expanding use cases within the Virtual Protocol ecosystem. Sustained increases in active addresses often signify strengthening fundamentals for a token. Consequently, the rising on-chain activity supported the narrative of a potential bullish breakout for VIRTUAL.Transaction activity for VIRTUAL has experienced a significant increase, with the transaction count reaching 763 as of the latest data. This marks a substantial rise from levels under 200 in early December, showcasing a near fourfold increase in activity. The sharp spike reflects a growing network utility, driven by heightened trading and interaction on the Virtual Protocol
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