$VIRTUAL is currently trading around 0.7296 after experiencing a sharp correction from the 0.7609 intraday high. Despite the recent selloff, buyers stepped in aggressively near the 0.7140 support zone and produced a strong rebound candle. This reaction shows that demand is still active and traders are defending lower levels.

On the 15-minute timeframe, price is attempting to recover after a liquidity sweep below recent support. The bounce from 0.7140 suggests that weak hands may have been flushed out before a potential continuation move. If bulls maintain momentum above the 0.7250–0.7300 area, the next challenge will be reclaiming the 0.7400 resistance zone.

Volume remains healthy and the recovery candle indicates buyers are willing to absorb selling pressure. A break above the recent lower highs could trigger a stronger move toward the upper resistance levels. However, traders should remain cautious because the short-term trend is still recovering from a bearish structure.

Trade Setup

Entry Zone: 0.7250 – 0.7310

Target 1: 0.7425

Target 2: 0.7525

Target 3: 0.7650

Stop Loss: 0.7120

Risk Level: Medium

Trade Idea

The best approach is to look for strength above 0.7300 and hold positions as long as price stays above the 0.7140 support region. A successful breakout above 0.7425 could accelerate buying momentum toward 0.7525 and eventually retest the 0.7609 daily high.

Market Structure

Support Zone: 0.7140 – 0.7200

Immediate Resistance: 0.7425

Major Resistance: 0.7525 – 0.7650

Trend Status: Recovery Phase with Bullish Rebound Potential

Let's go trade VIRTUAL and watch for buyers to push price back toward the daily highs. A confirmed breakout above resistance could provide an attractive risk-to-reward opportunity for short-term traders.