Virtuals Protocol surges 15% breaking ascending triangle pattern

Virtuals Protocol (VIRTUAL) experienced a significant surge of 15% on Tuesday, breaking through an ascending triangle pattern. This technical breakout has sparked optimism among crypto analysts, who believe it could drive the digital asset towards higher price targets.

According to Ali Martinez, a well-known cryptocurrency analyst, the breakout from the ascending triangle pattern suggests a potential price target of $3 for VIRTUAL. This prediction comes as the AI-focused cryptocurrency has already seen an impressive rally of approximately 480% since early April, with its current price standing at $2.35.

The bullish run for VIRTUAL began in the first week of April and has continued to gain momentum. The latest breakout has reinforced traders' confidence in the token's upside potential. Martinez's analysis, shared on X, highlights how the VIRTUAL/USDT 4-hour chart overcame resistance, breaking out of the ascending triangle formation.

TradingView’s data structure indicates that VIRTUAL’s latest breakout could signal a new phase in its current bull run. The price movement since the April bounce reveals a pattern where VIRTUAL embarks on a notable rally after every pullback. The latest pullback started after the cryptocurrency climbed above $2 in the first week of May, leading to a sideways consolidation and the formation of the ascending triangle.

Breaking out of this triangle prepares the crypto for future achievements, considering its historical price behavior. VIRTUAL previously crashed from its all-time high of $5.1229, achieved in December 2024. The current breakout suggests that the digital asset may be poised for further gains, driven by its AI and Metaverse protocols.

Virtuals Protocol is an AI-focused cryptocurrency that facilitates interactions through its AI and Metaverse protocols. Many analysts predict notable growth for VIRTUAL, considering the growing awareness across the internet and the potential emergence of several solutions requiring decentralized AI implementation. Speculators seeking profits from the rising crypto market often consider newer cryptocurrencies potentially viable during general market rallies. As of the latest data, VIRTUAL is trading at $2.35.