VIRTUAL eyes $1 breakout: Whats fueling the bullish momentum?
Tech VIRTUAL eyes $1 breakout: Whats fueling the bullish momentum? Virtual Protocols [VIRTUAL] recent 11% upside does not come as a surprise. It reflected a steady buildup in trading activity alongside rising participation across the network. User growth has accelerated, driving the assets latest rally, while broader sentiment has improved. With momentum building, VIRTUAL now approaches a key level last seen in 2025. Fundamentals underpin the rally The current move is backed by structural improvements that began taking shape around mid-April. Holder growth remains a primary driver, as evident on the chart. Since the 13th of April, the number of wallets holding VIRTUAL has increased by 10,000, pushing the total to 1.06 million. Source: CoinMarketCap This expansion signals sustained accumulation, suggesting that new entrants are positioning for longer-term upside rather than short-term speculation. Market sentiment has also shifted in favor of the bulls. Since the 2nd of May, the share of investors with a bullish long-term outlook has increased by 2.25%, reinforcing confidence in the assets trajectory. Breakout structure supports upside continuation The structure, defined by a rising support trendline and a horizontal resistance level, typically precedes directional moves once breached. Source: TradingView The breakout signals continuation, with price now targeting the $1 psychological level. If momentum holds, the next extension could push