Virtuals Protocol/Tether Market Overview

• Virtuals Protocol/Tether traded in a volatile 24-hour range of $0.7668 to $0.9263, closing at $0.8728 with strong intraday momentum.
• Price broke key resistance around $0.80–$0.85 with a bullish divergence in RSI and a confirmed MACD crossover.
• Bollinger Band expansion and high turnover in the morning signaled increased volatility and potential trend continuation.
• Volume surged dramatically in the morning session, confirming strength in the rally but raising short-term overbought concerns.

VIRTUALUSDT opened at $0.7756 on 2025-10-23 12:00 ET, hit a high of $0.9263, a low of $0.7668, and closed at $0.8728 by 2025-10-24 12:00 ET. Total trading volume reached 19,029,888.5 with a notional turnover of $16,135,247.8 over 24 hours. The pair exhibited a powerful rebound from a key support level near $0.77–$0.78, with multiple bullish candlestick formations and expanding volatility.

Structure & Formations

Price action on VIRTUALUSDT showed a distinct V-shaped recovery from a critical support area between $0.77 and $0.78, followed by a strong push above the $0.85 psychological level. A large bullish engulfing pattern emerged during the morning hours (ET), signaling a potential reversal in bearish momentum. A doji near $0.9263 marked a short-term pause in the rally, but was quickly followed by a breakout to the upside. Key resistance levels now appear to be at $0.85, $0.90, and $0.95, while critical support remains intact at $0.80 and $0.7668.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into a bullish configuration around 06:30 ET, reinforcing the upward bias. For the daily chart, the 50-period MA crossed above the 100-period MA in mid-October, forming a long-term bullish trendline. The 200-period MA remains well below current price levels, suggesting a continuation of the broader uptrend.

MACD & RSI

MACD lines on the 15-minute chart crossed positively around 07:00 ET and remained above the signal line through the morning rally, confirming the bullish momentum. The RSI moved into overbought territory (>70) during the morning session, but the price continued higher, indicating strong conviction in the move. A bullish divergence between price and RSI was observed at the early morning lows, suggesting that the bears had weakened.

Bollinger Bands

Volatility surged during the morning hours, expanding the Bollinger Bands to a width of over $0.15, indicating a high degree of uncertainty and aggressive trading. Price traded above the upper band for a brief period during the 08:00–09:00 ET window, a sign of strong momentum. However, by late morning, volatility began to contract slightly as the market consolidated above $0.85.

Volume & Turnover

Volume spiked dramatically between 06:30 and 09:30 ET, coinciding with the breakout above $0.85 and the $0.90 level. Total turnover during this period accounted for nearly 40% of the 24-hour total. The volume profile confirmed the strength of the rally, with no significant divergence between price and volume. A drop in volume in the afternoon may indicate a temporary pause in buying pressure, but the overall picture remains bullish.

Fibonacci Retracements

Fibonacci levels applied to the swing from $0.7668 to $0.9263 show the price currently resting near the 61.8% retracement level at $0.845. A break above $0.90 would target the 78.6% retracement at $0.897, with the full retracement at $0.899. On the daily chart, the 100% Fibonacci extension from recent lows is now at $0.94, suggesting a potential target for continuation.

Backtest Hypothesis

Given the strong MACD Golden Cross observed on multiple timeframes and the sustained momentum in volume and price, a 15-minute MACD-based strategy could have captured key entries during the morning rally. For instance, a golden cross at 06:30 ET would have led to an entry just before a sharp upmove. However, due to the current limitations of backtesting engines, which are constrained to daily data, a precise backtest of such an intraday strategy is not yet possible. Daily data approximations suggest the strategy may have yielded a positive return if held for 1–2 days post-signal, though this does not reflect true 15-minute execution.