$VIRTUAL Rockets Past $3.20: Bulls Eye $5.00 Target!
VVIRTUAL/USDT 4H Chart Analysis
Breakout confirmed:
VIRTUAL has broken above the $3.20 resistance with strong volume, indicating bullish momentum and a potential trend continuation.
Current price: $3.95.
This setup suggests a strong bullish continuation if $3.60 holds, with clear upside targets in sight.
Breakout confirmed:
VIRTUAL has broken above the $3.20 resistance with strong volume, indicating bullish momentum and a potential trend continuation.Current price: $3.95.
- Key levels:
- Support: $3.20 (recently established support following the breakout).
- Resistance:
- Target 1: $4.40 (next immediate resistance).
- Target 2: $5.00 (extended resistance if bullish momentum continues).
- Pattern: A textbook bottom formation has been completed, signaling a strong reversal.
- Trade setup:
- Entry: Current level ($3.95) or on a pullback near $3.60.
- Target:
- T1: $4.40.
- T2: $5.00 (if momentum sustains).
- Stop loss: Below $3.60 to minimize downside risk.
- Risk-to-reward: Favorable R:R, particularly if the price sustains above $3.60 and trends toward T2.
- Confidence level: 8/10, given the clean break of $3.20 resistance and volume confirmation
- Considerations:
- Volume confirmation: Ensure buy volume remains strong, especially near $4.40.
- Momentum check: Watch RSI for signs of overbought conditions as price approaches $4.40-$5.00.
- Resistance reaction: Be prepared for potential consolidation or rejection near $4.40 before targeting $5.00.
This setup suggests a strong bullish continuation if $3.60 holds, with clear upside targets in sight.
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