- Virtual signals Overbought conditions, hints on a possible withdrawal in the short term of the current levels.
- The liquidity inflow remains strong, but in the vicinity of clusters between $ 1.6 – $ 18 can draw the price to lower support zones.
Virtual protocol [VIRTUAL] Registered one of the most important market wins in the last 24 hours, with an increase of 50%. In fact, this is the highest profit within this period, according to Coinmarketcap.
In the past 90 days, Virtual was arranged in fifth place in the top 100 coins with a win of 71.16%. Liquidity placement on the graph shows, however, that the run of the asset can cost a short break.
An incoming correction in the midst of price rally
Ambcryptos analysis of the relative strength index (RSI) showed that virtually could be introduced a corrective phase soon.
The RSI is a technical indicator that determines whether an active overbough or crossing is based on the lecture on the graph.
A lecture between 50 and 70 shows that it is active in a positive zone. As soon as it leaves this phase and rises above 70, this indicates that it is actively overvalued and can experience a price fall.
Source: TradingView
This is a historical pattern that often repeats itself, which suggests that a price decrease is likely. Interestingly, the Money Flow Index (MFI) suggests that the decrease will be minimal.
The MFI, which measures the inflow and outflow of funds from the market, shows that liquidity still enters the market.
It was 73.77 At the time of the press, which confirmed that liquidity continued to enter the market and reduced the chances of a sharp decline. That said, a mild withholding to the support of $ 1.6 remains possible.
Liquidity clusters give a reach
According to the liquidation heating of Coinglass, liquidity clusters were virtually between $ 1.6 and $ 1.8.
Liquidity clusters are levels on the graph with non -filled orders that act as price magnets that attract it to them.
Source: Coinglass
These clusters are identified by colors on the graph – green, yellow or dark tones. The yellow levels mark zones with high liquidity clusters and there are specific levels on the graph within this range.
When the price reaches one of these levels, virtually can return, especially if buying momentum increases.
Return is resumed
On 8 May, spot traders sold their virtual companies, with a total of $ 788,490 to the assets -loaded assets.
From the moment of the press, however, there has been a shift. These traders have now bought a total of $ 1.96 million in virtual from the market.
Source: Coinglass
Moreover, the financing percentages in derivatives became positive and flipping for the first time since 8 April Bullish.
This shift confirms renewed optimism at Futures traders, which enhances the chance of a new upward continuation.
Source: Coinglass
If buying activities on both the location and the derivatives markets continues, it is likely that it will resume being active push to the benefit.