Summary
• Price action formed a bullish engulfing pattern near 0.8334, followed by a strong upward reversal.
• Momentum shifted decisively higher during the overnight session, pushing price past 0.88.
• Volatility expanded dramatically during the 23:30–04:00 ET window, with volume surging to over 700k.
• Price held above the 0.86–0.87 consolidation range, indicating possible bullish continuation.
• Turnover spiked 10x above average during the 01:00–05:00 ET window, confirming accumulation.
VIRTUALUSDT opened at 0.8414 (12:00 ET − 1), reached a high of 0.918, touched a low of 0.8334, and closed at 0.9047 (12:00 ET) over the past 24 hours. Total volume was 10.25 million, with notional turnover at approximately $9.01 million.
Structure & Formations
Price experienced a sharp reversal from a key support level at 0.8334, forming a bullish engulfing pattern. This was followed by a strong rally into 0.88 and beyond, with the 0.86–0.87 range acting as a consolidation zone before a breakout. A bearish divergence in the 0.88–0.90 range suggests possible short-term profit-taking.
Moving Averages
On the 5-minute chart, the 20SMA and 50SMA have remained bullish for the past 5 hours, confirming a strong uptrend. On the daily chart, the 50DMA and 100DMA have crossed above the 200DMA, suggesting intermediate-term strength.
MACD & RSI
The MACD turned positive during the overnight session and remains above the signal line, indicating sustained bullish momentum. RSI has oscillated between overbought and neutral levels, with a current reading of 61, suggesting continued but cautious buying pressure.
Bollinger Bands
Bollinger Bands widened significantly during the 23:30–04:00 ET period, reflecting increased volatility. Price has since remained above the midline and within the upper band, suggesting continued momentum but with potential for a pullback.
Volume & Turnover
Volume surged during the 01:00–05:00 ET window, reaching over 700k per 30-minute interval, coinciding with the 0.88–0.90 price push. Turnover spiked 10x above average, confirming accumulation. A volume divergence appeared around 0.905, suggesting potential near-term profit-taking.
Fibonacci Retracements
Key retracement levels at 0.862 and 0.871 were tested before the price continued higher. On the 5-minute chart, price found support at 0.8334, which aligns with the 61.8% retracement level of the earlier bearish move.
VIRTUALUSDT appears to be in a strong short-term bullish phase, supported by high volume and positive momentum indicators. However, the overbought RSI and divergence in volume suggest caution. A pullback to the 0.88–0.89 range could offer a key test for buyers ahead of the next 24-hour period. Investors should closely watch for breakouts above 0.915 or retests of the 0.88–0.89 support zone.
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