• VIRTUAL protocol breaks a triple top pattern by clearing $2.08, flipping resistance into a new support level.
  • Technical signals lean bullish, but RSI near overbought warns of a possible pause soon.

VIRTUAL Protocol has shaken off recent selling pressure and climbed above the important $2.08 resistance, currently trading around $2.20. This breakout changes the short-term momentum, but the market remains somewhat volatile, so caution is still wise.

For the past two weeks, VIRTUAL had hit a wall at $2.08 multiple times, forming what looked like a triple top—a pattern that often signals a reversal downward. Each time, the price was pushed back down on May 9, 12, and 19. This kept the $1.66 level solid as support during consolidation. But today’s move breaks that pattern, turning $2.08 from a ceiling into a floor and giving the bulls the upper hand for now. The next target to watch is $2.32, while $1.66 remains a key support in case the price retreats.

VIRTUAL Protocol Breaks Out: Bulls Take Control Above $2.08 image 0 Sources: CoinMarketCap  

However, the current price action has said bullish with VIRTUAL rallying at $2. 20. This price increase signifies a technical breakout and represents a previous resistance into a new support level. Virtual Protocol resistance level now sits at $2.32, while $1.66 remains the key downside level in case of a reversal.

Technical Indicators Turn Bullish, But RSI Warns of Overextension

Momentum indicators are beginning to reflect the strength behind this breakout. On the 4-hour chart, the Relative Strength Index (RSI) has climbed to 67, up from 48 earlier this week, indicating growing bullish momentum. While this upward swing supports the rally, it also places RSI dangerously close to the overbought threshold of 70, which may hint at short-term exhaustion or an upcoming consolidation.

VIRTUAL Protocol Breaks Out: Bulls Take Control Above $2.08 image 1 Source: TradingView

Supporting the bullish sentiment further, the MACD has printed a positive crossover, with the MACD line moving above the signal line — a traditional sign of trend reversal and rising momentum. Also, trading volumes reveals buying interest after making 52% increase in the last 24 hours, assuring a renewed buying traffic and reaching the new psychological support.

On-Chain Metrics: Profit-Taking Still Looms

Despite the current bullish technical setup, on-chain data suggests a lingering risk of profit-taking. Santiment’s Network Realized Profit/Loss (NPL) data indicated a spike in realized profits around May 8–9, corresponding with a sharp correction of over 10%.

As price returns to higher levels, some long-term holders — particularly those who accumulated below the $1.00 range — may be tempted to offload positions and realize gains.

If VIRTUAL maintains this upward trajectory and consolidates above $2.08, the next upside target lies at $2.32. A successful break above this resistance could open the door toward $2.50 and potentially retest the April swing highs, assuming broader market sentiment remains favorable. On the flip side, if the bullish momentum fails to sustain and price dips below $2.08, a pullback to the $1.90–$1.95 area is likely. Should the selloff deepen, the strong support at $1.66 — previously the neckline of the triple top — will become the key level to watch for potential bullish defense.

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