![Virtuals Protocol [VIRTUAL]– Can altcoin strike $6 regardless of whale profit-taking?](https://www.cryptonium.news/wp-content/uploads/2024/12/31476-virtuals-protocol-virtual-can-altcoin-strike-6-regardless-of-whale-profit-taking.webp "Virtuals Protocol [VIRTUAL]-- Can altcoin strike $6 regardless of whale profit-taking? 1")
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Published: December 28, 2024
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- VIRTUAL rose by over 10% over a single 24-hour duration
- VIRTUAL running the risk of liquidation of heavy leveraged orders at $3.10.
Virtuals Protocol (VIRTUAL) signed up a walking in cost just recently, with the altcoin climbing up from around $2.95 and peaking at $3.22. This motion represented a 10.57% walking within simply one day, with its market cap striking $3.22 billion too.
In spite of a 5.78% drop in everyday trading volume to $290.57 million, the volume-to-market cap ratio stayed healthy at 9.05%– An indication of robust trading activity.
The altcoin’s current efficiency is.an indication of financier optimism. This indicated a strong market position for VIRTUAL, possibly affecting its future rate trajectories.
VIRTUAL rate action and forecast
Checking out the chart, VIRTUAL revealed an engaging test of its ATH with efforts to exceed its resistance level. The rate very first peaked at $2 with an advancement at that level, setting the phase for additional rallies with VIRTUAL striking an ATH of $3.33.
The subsequent retreat from these highs, nevertheless, saw the rate support near $2, meaning resistance-turned-support characteristics. This supported a bullish outlook, with VIRTUAL’s rate action recommending it might strike the $6-mark.
Source: Trading View
On the other hand, a dip listed below the combination zone might trigger a retest of the Bollinger Bands’ mid-line and even its lower limit, providing important assistance.
If the rate breaches this lower band, it might activate a short-term bearish pattern within the overarching uptrend.
Liquidation heatmap and whale activity
The Liquidation Heatmap showed focused liquidation levels at particular rate points where cost motions prevailed.
Especially, the heatmap revealed heavy liquidation take advantage of at $3.1074, where 453.32 k in take advantage of were at threat of liquidations if the rate strikes that level.
This level represents a vital zone where the cost has actually gravitated to, recommending increased trading activity and possible pivot points for future motions.
Source: Coinglass
Previous patterns likewise exposed that the rate frequently approached these thick liquidation zones, potentially driven by traders intending to profit from shifts in market belief.
If VIRTUAL’s cost is to continue connecting with these zones, it might set off additional rate changes around these liquidation levels. This signified the characteristics of supply and need at crucial technical levels within the marketplace.
A Virtuals Protocol whale switched 9.9 cbBTC for 1.913 million VIRTUAL, valued at around $896,000 at that time.
This tactical relocation was followed by a considerable sale, where the whale unloaded 1.026 million VIRTUAL for $2.7 million, understanding an earnings of around $1.8 million.
Source: The Data Nerd/X
The whale maintains 887,000 VIRTUAL now, worth about $2.75 million– An indication that the whale is preparing for more uptrend while methodically taking earnings.
