The cryptocurrency VIRTUAL showed tentative signs of stabilization on Sunday, testing critical support near $0.58. Crypto analyst Umair Crypto suggested the recovery is fragile, possibly a temporary pause before downward pressure resumes. Technical data indicates a short-term bounce may extend toward $0.73 if key levels are reclaimed, but a break below support could target $0.40 or $0.20.
VIRTUAL tested a critical support level near $0.58 on Sunday, showing tentative signs of stabilization. Crypto analyst Umair Crypto stated the move offered only a temporary pause in an ongoing downtrend.
He cautioned this bounce could resemble a typical dead-cat reaction, providing only short-term relief. Any sustained recovery would require the token to reclaim its RSI trendline and 20-day moving average.
If those technical levels are overcome, the token could extend toward $0.73. However, a failure to hold the $0.58 support may trigger further declines, with potential targets at $0.40 and $0.20.
Data from TradingView showed the price had dropped significantly from $1.10 to $0.50, indicating a strong downtrend. The token bounced to $0.5886, which analysts noted could represent short-term resistance.
The MACD indicator showed a bullish crossover, hinting at increasing strength in the recovery. However, the indicator remained near zero, suggesting the momentum was still relatively weak.
