VIRTUAL Token Leads Daily Gainers on Buying Pressure, Aims to Cross $2 Mark

VIRTUAL has emerged as the best-performing cryptocurrency today. With a 5% price increase in the past 24 hours, it has outpaced the sluggish market trend.

While many other major assets recorded slight declines during the same period, the Virtual Protocol token is currently trading at $1.78, demonstrating relatively strong price momentum.

Virtual increases due to new capital inflow

On the VIRTUAL/USD daily chart, technical indicators suggest that the upward trend may be maintained. For example, VIRTUAL's Chaikin Money Flow (CMF), which measures buying and selling pressure, has crossed the zero line and is now in an upward trend, indicating that capital is flowing into the asset.

On the daily VIRTUAL/USD chart, technical indicators suggest the upward trend may continue. Notably, the Chaikin Money Flow (CMF) token has recovered from the neutral zero line and is trending higher, signaling new buying pressure.

When an asset's CMF is above zero, it is experiencing net capital inflow. This means capital is steadily flowing into VIRTUAL, a sign of market confidence and increasing investor interest.

Additionally, the Super Trend indicator confirms the bullish market structure, as it is positioned below VIRTUAL's price, providing dynamic support at $1.19. This indicator helps traders determine market direction by placing a line above or below the price chart based on the asset's volatility.

Like VIRTUAL, when an asset's price trades above the Super Trend line, it signals an upward trend. This indicates the market is increasing and buying pressure is prevailing.

VIRTUAL Eyes Breakout as Bulls Target $2.26

With momentum supporting it and market indicators sending positive signals, VIRTUAL is attempting to break above the $2 threshold. If it surpasses the critical resistance level at $2.05, it could confirm a breakout and open up short-term price increase opportunities.

In this scenario, the altcoin's value could reach $2.26.

However, if demand decreases and profit-taking increases, the Virtual Protocol token risks losing its recent gains and could drop to $1.55.