A naukri.com initiative
TronWeekly
1M
421
Image Credit: TronWeekly
VIRTUAL Shows Signs of Recovery: Is a Bullish Breakout at Hand?
- The VIRTUAL token is showing signs of recovery and a potential trend reversal above the $2.00 mark.
- Technical indicators like ADX, RSI, and MACD suggest increasing bullish momentum, though volume remains a concern.
- Analysts recommend a cautious entry between $2.06 - $2.09, targeting $2.15 and $2.23 for potential gains.
- The token's price action hints at a reversal pattern near the psychologically significant $2.00 level.
- Quiet market conditions and decreasing volume suggest an accumulation phase.
- VIRTUAL was trading above its pivot point of $2.04, indicating potential buyer control.
- Low volatility with Bollinger Bands contracting may lead to a breakout.
- RSI at 36.36 indicates oversold conditions, possibly signaling an upward price movement.
- High ADX level adds weight to the potential for a strong directional move, supported by MACD.
- Sustained price rally would require increased trading volume.
- Entry levels suggested at $2.06 - $2.09, with targets at $2.15 and $2.23; stop loss below $1.96.
- Traders advised to wait for a clear close above $2.09 before entry, monitoring volume for confirmation.
- Analysts emphasize gradual entry above $2.15 in line with rising trading volume.
- The article provides insights and recommendations for trading the VIRTUAL token amidst signs of recovery.
Read Full Article
25 Likes
For uninterrupted reading, download the app