Is VIRTUAL gearing up for a rally? 2 factors suggest…

Speculation grows as VIRTUAL aligns with bullish signals, eyeing a potential breakout.

The Virtual Protocol token appears to be on the cusp of a significant rally, fueled by two compelling indicators: whale activity and rising metrics. The data suggests that these bullish signs may soon translate into a price increase.

Whale activity takes center stage

In a surprising move, an unknown investor withdrew 854 Ethereum, worth $2.9 million, from Coinbase, acquiring 851,387 VIRTUALs. This substantial purchase has sparked widespread speculation about the token’s future potential.

The whale purchase alone warrants attention, given its significant size and impact on the market sentiment. It is crucial to monitor this development closely, as it could potentially be a catalyst for further price appreciation.

Rising metrics strengthen bullish narrative

As of late, Virtual Protocol has seen an increase in daily active addresses, rising from under 200 in early December to 1,290 at press time. This dramatic surge signals a growing network utility and substantial user engagement.

Furthermore, the transaction count has also experienced a significant boost, reaching 763 as of the latest data. These increases underscore the token’s increasing relevance within the cryptocurrency space.

In addition, the Long/Short Ratio illustrates that traders are increasingly optimistic about the token’s future prospects. The data reveals that long positions now account for 53.19% of total positions, compared to shorts holding 46.81%. This imbalance indicates a growing sense of confidence among investors.

Combining these indicators yields an overwhelming case for a potential rally

Given these extraordinary circumstances, it appears unlikely that VIRTUAL will not continue its uptrend. The collective data suggests a token poised for a significant price increase.

Assuming the Virtual Protocol successfully breaks resistance at $3.58, a potential surge to new heights could ensue.

Source: ambcrypto.com