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The Virtuals Protocol price has soared 23% in the last 24 hours to trade at $3.47 as of 7:50 p.m. EST on a 48% pump in trading volume to $571 million.
This surge in price has positioned VIRTUAL as the top gainer among the top 100 cryptocurrencies by market capitalization, according to data from CoinGecko.
Virtuals Protocol Price Continues The Uptrend Within The Channel
The 4-hour chart for Virtuals Protocol reflects a strong bullish trend as the price continues to move within an ascending channel. Currently trading at $3.48, the price is nearing the upper boundary of the channel, indicating that bullish momentum is intact. The ascending channel serves as a key structure guiding the trend, with higher highs and higher lows reinforcing the uptrend.
The $2.86 level, marked by the 50-period moving average (MA50), acts as dynamic support and is a crucial level for maintaining the bullish structure. Below this, the broader support zone between $2.03 and $2.10, which aligns with a prior consolidation area and a key Fibonacci retracement level (0.815), represents a strong safety net for the price in case of a significant correction.
VSUUSDT Analysis Source: Tradingview
The RSI (Relative Strength Index) is currently at 67.64, approaching the overbought zone. While this signals robust bullish momentum, it also indicates the possibility of short-term consolidation or a pullback if overbought conditions are reached.
in addition, the moving averages (MA50 and MA200) are trending upward, signaling longer-term bullish strength and providing additional support levels during any potential pullback.
A breakout above the channel’s upper boundary, likely around $3.50 – $3.55, could propel the price toward $4.00 or even higher levels, marking a significant continuation of the uptrend.
On the downside, a retracement could test the $2.86 support level first, with the $2.03 – $2.10 zone serving as a critical fallback for a deeper correction.
Solaxy (SOLX): A Game-Changing Layer-2 Meme Coin On Solana
As the Virtuals Protocol price continues its bullish momentum, investors are snapping up the new Solana meme coin Solaxy (SOLX), the first layer-2 solution on Solana and a project that’s raised $6.4 million in just 2 weeks since launching its presale.
A crypto Analyst on 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, says it might soar 100X after launch.
Solaxy’s success highlights the community’s strong belief in its potential to revolutionize blockchain technology.
Far from being just another cryptocurrency project, Solaxy takes a groundbreaking approach to addressing one of Solana’s biggest challenges: network congestion.
With its innovative layer-2 solution, Solaxy tackles congestion directly, enhancing Solana’s network capabilities without diverting resources or compromising its core integrity.
In addition, Solaxy creates a seamless bridge between Solana and Ethereum, combining the best of both networks. By leveraging Ethereum’s liquidity and security alongside Solana’s speed and scalability, Solaxy establishes a robust ecosystem designed to meet the growing demands of decentralized finance (DeFi) and meme coin trading.
Hey everyone! 👋 I just came across an exciting project that's set to revolutionize the Solana ecosystem: Solaxy. Let's dive into what makes this Layer-2 solution a game-changer. 🚀 @SOLAXYTOKEN pic.twitter.com/B1f506l5r4
— Sammie Ranking (@Samuel__Martins) December 24, 2024
SOLX token holders also benefit from passive income opportunities on the platform, with a huge annual yield of 603%.
To participate in the presale you can purchase SOLX tokens at just $0.001582 each using BNB, ETH, USDT, or a bank card.
With a price hike scheduled in less than 22 hours, buy soon to secure the best deal.
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