VIRTUAL Price Could Rally Beyond $3 If This Pullback Level Holds — Here’s Why

Core Insights - The price of Virtuals Protocol (VIRTUAL) has decreased by 8% in the last 24 hours but remains up nearly 79% over the past week, indicating a potential pause before further upward movement if it maintains above a key support level [1] Accumulation by Mega Whales - Mega whale wallets, comprising the top 100 VIRTUAL addresses, have increased their holdings by 0.06% to 966.01 million tokens, adding approximately 0.58 million VIRTUAL during the recent dip [2] - This accumulation suggests that large holders perceive the current price correction as temporary, while smaller holders are taking profits [3] Market Signals and Trends - The 100-period Exponential Moving Average (EMA) has crossed above the 200-period EMA, indicating a bullish trend in the short term [5] - The Money Flow Index (MFI) is showing signs of upward movement, indicating a return of buying power, particularly from retail traders reacting to whale activity [6] Price Patterns and Projections - VIRTUAL has recently broken out of a flag-and-pole pattern near $1.42, with a projected price target of $3.34, representing a potential gain of 133% from current levels [7] - To confirm renewed strength, the token must close a full 4-hour candle above $1.65, with recent price action showing a higher low while the Relative Strength Index (RSI) made a lower low [8]