Virtuals Protocol (VIRTUAL) Price Performance

Virtuals Protocol (VIRTUAL) emerged as one of the impressive gainers in the market at the opening of the work week.

Virtuals Protocol (VIRTUAL) Surges 21% Despite Expected Short-Term Pullback

Virtuals Protocol (VIRTUAL) price soared on Monday morning as it displayed a gain of over 21% in the past 24 hours. The token surged from a low of $2.33 to a high of $2.84. At 8:00 AM UTC, VIRTUAL was still trading at its peak.

Behind VIRTUAL’s Recent Rally

The recent surge in Virtuals Protocol price was largely attributed to a boost in its adoption. Binance Futures listed the token a week ago, which significantly increased its reach and exposure.

Moreover, Virtuals Protocol’s partnership with Hyperbolic Labs signaled a new milestone in its ecosystem. The network was able to link its artificial intelligence (AI) agents to Hyperbolic’s Application Programming Interface (API).

According to Hyperbolic’s announcement, the integration provided VIRTUAL with access to “consistent performance, scalable compute, verifiable inference, and zero compromises in delivering dynamic, evolving AI interactions.”

Expected Short-Term Volatility

Due to the surge in early investors who are likely to capitalize on the event to lock in profits, analysts anticipate a short-term pullback in Virtuals Protocol price.

The “overbought” reading in the digital asset’s 14-range Relative Strength Index indicator in the four-hour, one-day, and one-week intervals further supports this prediction. The RSI values, which are calculated based on the price changes and moving averages (MAs) within these time frames, indicate an impending mass sell-off.

Despite the anticipated sell-off, TradingView’s Momentum Indicator (MOM), Moving Average Convergence/Divergence (MACD), Simple Moving Averages (SMA), and Exponential Moving Averages (EMA) all signal a “Buy” recommendation for the crypto asset.

From a fundamental perspective, Virtuals Protocol could further leverage its listing on major crypto exchanges, coupled with the increasing influence of Bitcoin (BTC) and other mainstream altcoins in the traditional finance (TradFi) sector, to amplify its adoption in the long run. This could be a potentially rewarding scenario for its long-term HODLers.