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The Virtuals Protocol price soared 25% in the last 24 hours to trade at $4.96 as of 02:14 a.m. EST on trading volume that surged 39% to $805 million.
Virtuals Protocol Price On A Rising Channel
The VIRTUAL price chart analysis shows that the asset has been in a robust uptrend since October, maintaining higher highs and higher lows.
The Virtuals Protocol price is trading well within a clearly defined ascending channel (highlighted in orange), with the upper and lower boundaries acting as resistance and support, respectively.
The breakout above the 50-day Simple Moving Average (SMA) at $3.5486 in November marked the beginning of significant bullish momentum, according to data from GeckoTerminal.
Currently, the Virtuals Protocol price is trading near the upper boundary of the ascending channel at $4.96, suggesting that the trend is intact. Strong support is visible at the 50-day SMA ($3.5486) and the lower boundary of the ascending channel, which intersects near $4.00.
The price is well above both the 50-day SMA ($3.5486) and 200-day SMA ($2.4660), confirming the long-term bullish trend.
The Relative Strength Index (RSI) is at 77.89, indicating that the asset is in overbought territory. While this reflects strong bullish momentum, it also suggests the possibility of a short-term pullback or consolidation.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) is significantly above the signal line (orange), confirming bullish momentum. The histogram is also positive and expanding, indicating continued upward pressure.
VIRTUAL Price Prediction
Given the technical setup, the VIRTUAL price appears poised for further upside within the ascending channel. In the short term, the price of Virtuals Protocol could test the $5.20–$5.50 zone, corresponding to the upper boundary of the channel.
If the Virtuals Protocol price breaks above the channel with strong volume, it may target $6.00 and beyond, signaling an acceleration of the uptrend. However, if a pullback occurs due to overbought conditions, support levels at $4.50 and $4.00 should be closely monitored.
Meanwhile, investors are also buying into a new crypto called Meme Index (MEMEX), the world’s first meme coin index that’s offering a diversified way to invest in meme coins.
Crypto analyst ClayBro, with over 135K followers, believes that MEMEX could see a 26X increase after launch, helped in part by the 2025 meme coin supercycle.
Meme Index Presale Closes On $1.5 Million
Meme Index is quickly gaining traction in the meme coin space, with its ICO hitting an impressive $1.499 million.
With so many meme coins flooding the market, picking the right one for significant returns can be a gamble.
That’s where the Meme Index comes in. By offering exposure to multiple meme coin baskets, it allows investors to tap into diverse portfolios, spreading risk while maximizing potential upside. Its native token, $MEMEX, is the key to accessing these indexes.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
Meme coins are set to continue growing in influence, and as a meme coin packed with utility across the Meme Index ecosystem, $MEMEX is well placed to capitalize.
Meme Index offers four distinct indexes—Meme Titan, Moonshot, Midcap, and Meme Frenzy—each catering to different risk appetites and investment strategies.
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MEMEX holders can also participate in its presale staking pool, which currently provides a stratospheric annual yield of 1,637%.
To participate in the presale, you can purchase MEMEX tokens on the official website for just $0.0148639.
Buy soon to lock in the best deal as the price will increase in less than two days.
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