Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Virtuals Protocol (VIRTUAL) Retesting Key Breakdown — What Could Happen Next?

Virtuals Protocol (VIRTUAL) Retesting Key Breakdown — What Could Happen Next?

2025/07/02 22:05
By:

Date: Wed, July 02, 2025 | 03:37 PM GMT

The cryptocurrency market is gaining upside momentum today, with Ethereum (ETH) leading the charge — rallying nearly 3% to trade around $2,500, which is boosting sentiment across major altcoins .

Among them, Virtuals Protocol (VIRTUAL) has surged over 5%. But beyond the green candles, the chart suggests that VIRTUAL is at a key decision point as it retesting a recent breakdown.

Virtuals Protocol (VIRTUAL) Retesting Key Breakdown — What Could Happen Next? image 0 Source: Coinmarketcap

Retesting Bearish Pennant Breakdown

On the 4-hour chart, VIRTUAL recently broke down from a bearish pennant pattern, a formation often signaling the continuation of a prior downtrend. After a sharp decline in late June, price consolidated in a tightening wedge, forming lower highs and higher lows—a classic pennant structure.

Virtuals Protocol (VIRTUAL) Retesting Key Breakdown — What Could Happen Next? image 1 Virtuals Protocol (VIRTUAL) 4H Chart/Coinsprobe (Source: Tradingview)

Now, VIRTUAL is retesting the underside of the broken pennant, an area that previously acted as support but is now functioning as resistance. This level coincides closely with the 100-period moving average, currently sitting around $1.57, making it a key decision zone for price action.

What’s Next for VIRTUAL?

At the moment, VIRTUAL is hovering around the $1.57 mark, where both the broken trendline and 100 MA converge—creating a strong resistance cluster. A rejection from this zone would confirm the breakdown and likely trigger further downside pressure, with a potential first downside target of $1.41 in the short term.

However, if buyers manage to reclaim $1.63, breaking above both the trendline and the 100 MA, this would invalidate the bearish setup and could open the door to a bullish reversal in the short term.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research and consult with a professional before making investment decisions.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Micron now earns more than Apple! Apple urgently needs chips, Micron holds pricing power.

Micron Technology reported a net profit of $37.7 billion in the fourth fiscal quarter, surpassing Apple's $29.8 billion for the same period, thus becoming the more profitable company for the quarter. The memory shortage has given Micron strong pricing power, with its CEO stating that they “cannot meet customer demand.” The revenue guidance for next quarter is as high as $61.5 billion. Meanwhile, Apple's gross margin continues to be pressured by persistent memory costs, having dropped from 49.3% to a guidance range of 46.5%.

华尔街见闻•2026/10/11 10:06

The "Eye of the Storm" in the Global Economy: Debt Crisis in Developed Countries

The IMF warns that developed economies are becoming the "eye of the storm" for global debt risks. Countries such as the United States and France accumulated high levels of debt during periods of low interest rates, but now rising interest rates are pushing up repayment costs, and fiscal consolidation faces political resistance. BofA Securities points out that the United States is facing declining tax revenues, France has structural income decline issues, and the UK and Japan are also under pressure. The deteriorating debt sustainability of developed countries may impact global financial markets through shocks in interest rates and capital flows.

华尔街见闻•2026/10/11 09:21

The US market narrative undergoes a "dramatic reversal": shifting from "AI-driven deflation and controllable US debt" to "AI squeezing the bond market, and Bassen unable to control long-term interest rates"

Deutsche Bank points out that the market narrative regarding the U.S. economy has shifted from "AI drives down inflation" to "AI-related bond issuance pushes up U.S. Treasury yields," but pessimism may be overdone. The bank believes that the real risks underestimated by the market are security incidents in the AI ecosystem, failed IPOs, or underwhelming revenues, which could undermine the dollar and support the bond market. In addition, France's fiscal difficulties are putting new pressure on the euro.

华尔街见闻•2026/10/11 07:41