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Cryptocurrency News Articles

Virtuals Protocol (VIRTUAL) Price Prediction: Can AI Coin Go Below $3?

Jan 08, 2025 at 09:30 am

Virtuals Protocol (VIRTUAL) price has skyrocketed by 133% over the past 30 days, fueled by the growing narrative around crypto AI agents.

Virtuals Protocol (VIRTUAL) Price Prediction: Can AI Coin Go Below $3?

Despite a 6% price dip in the last 24 hours, Virtuals Protocol (VIRTUAL) has seen an impressive 133% surge over the past 30 days, driven by the narrative around crypto AI agents. However, the coin’s average directional index (ADX) has declined to 13.3, indicating weak trend strength.

This shift in technicals suggests that VIRTUAL’s prior trend has lost momentum, indicating a possible transition into a consolidation phase. The ADX, which measures the strength of a trend, regardless of its direction, is currently very low. Values below 20 suggest weak or absent directional price movement.

At 13.3, the ADX indicates minimal trend momentum, which aligns with the price behavior, suggesting reduced volatility and directional movement. This low ADX level implies that Virtuals Protocol price is likely to remain range-bound in the short term unless a significant shift in buying or selling pressure occurs.

Traders may interpret this as a period of indecision in the market, where the coin’s next direction will depend on whether momentum reasserts itself on the bullish or bearish side.

After remaining positive for several days, VIRTUAL’s BBTrend has now turned negative, currently at -1.51. This indicator is derived from Bollinger Bands and is used to assess the strength and direction of price movements.

Positive values indicate bullish momentum, while negative values suggest bearish conditions. Virtuals Protocol recent transition to negative BBTrend levels reflects a shift in sentiment, signaling potential downward pressure.

This shift comes after VIRTUAL’s BBTrend peaked at 20.5 on January 4, marking a high point of bullish momentum as the trend around crypto AI agents has been on the rise in the last few weeks. The current negative value suggests that selling pressure has overtaken buying activity, aligning with signs of a potential price decline or further consolidation.

For VIRTUAL to regain its upward momentum, the BBTrend would need to recover into positive territory, indicating renewed investor confidence and increased buying activity. Until then, the market may remain cautious, with a focus on maintaining key support levels.

News source:beincrypto.com

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