VIRTUAL Drops 15% After 200% Surge, Smart Money Holds Steady
1min read Virtuals Protocol (VIRTUAL) has experienced a 15% decline in the past 24 hours, following a remarkable 200% surge over the previous 30 days. This recent pullback coincides with the token testing a critical resistance level around $1.53, while trend indicators suggest a weakening in momentum.
Despite this price correction, Smart Money wallets have increased their holdings by 14.4% over the past week, rising from 16.49 million to 18.57 million on May 2, and have since maintained a steady position around 18.54 million. This accumulation by sophisticated on-chain participants signals confidence in the longer-term outlook for VIRTUAL, especially after the token's 209% gain in the last 30 days, making it one of the best-performing altcoins in the market.
The recent 15% dip has not triggered widespread selling among these wallets, indicating a strategic pause rather than panic. This holding pattern suggests confidence in the continuing uptrend or a strategic reallocation. While not guaranteeing future gains, steady Smart Money holdings in the face of short-term volatility are often a positive signal for longer-term momentum.
VIRTUAL’s BBTrend has sharply declined to 6.76, down from 31.91 just two days ago, marking a significant weakening in upward momentum. The BBTrend is a volatility-based indicator that measures the strength and direction of a trend by analyzing the expansion and contraction of Bollinger Bands. Values above zero suggest a bullish trend, with higher readings indicating stronger momentum. Since April 24, VIRTUAL’s BBTrend has stayed in positive territory, signaling consistent bullish behavior for nearly two weeks.
The current reading of 6.76 still reflects a positive trend, but the steep drop shows that momentum is cooling off. This deceleration may point to a period of consolidation or reduced buying interest. Traders should watch whether the BBTrend continues to decline or stabilizes, as either could shape whether VIRTUAL regains strength or dips further.
Ask Aime: "Is VIRTUAL's recent pullback from a 200% surge a sign of short-term correction or still a strong long-term buy?"
VIRTUAL is currently trading just below a key resistance level around $1.53. If buying momentum returns, particularly with renewed interest in crypto AI agents, VIRTUAL could test $1.89 in the near term. A successful breakout there would pave the way for a possible move above the $2 mark, a level it hasn’t reached since January 30. However, failure to reclaim $1.53 could lead to a pullback, especially given the recent cooling in trend strength. In that case, the next key support level lies at $1.19.
