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VIRTUAL Breaks Above $1.83 – Start of a Recovery or Just a Short-Term Impulse?
- VIRTUAL has surged above $1.83 and EMA 20/50, sparking discussions about a recovery or a short-term impulse in the midst of a downward trend pressure.
- The price structure remains under the broader downtrend influence, with a quick bounce from $1.605 testing the trend.
- Positive EMA angles and RSI nearing overbought levels suggest a strong momentum shift, although caution is advised.
- EMA levels like 20, 50, and 100 have been broken with varying strengths, hinting at differing momentum cycles.
- RSI currently at 67.18, displaying a steady rise and nearing overbought territory, pointing towards potential bullish trends.
- Key Fibonacci zones and price levels from $1.663 to $1.998 provide insights into potential support and resistance areas.
- The market sentiment indicates a buyer-driven recovery, with targets set at $1.998 and caution around possible profit-taking scenarios.
- Potential bullish and bearish scenarios are outlined based on price levels, RSI thresholds, and market sentiment.
- Trading strategies including entry points, stop losses, and key levels are suggested for navigating the current market conditions.
- The article concludes with the view that VIRTUAL may be on the brink of breaking out of its downward trend, but close monitoring is crucial for further market trajectory.
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