⚠️ $VIRTUAL
TESTING RESISTANCE: Caution Advised 🚧
$VIRTUAL has shown a strong, controlled rebound from the 0.792 low, but the move is now hitting key overhead supply at the MA99 resistance zone.
Volume is steady, but lacks the explosion needed for a definitive breakout. The market is currently consolidating, testing overhead sellers.
ACTIONABLE OUTLOOK:
• If you are positioned from lower levels (below 0.792): HOLD. The rebound shows strength, and your SL is likely protected.
• Avoid chasing the price: Do not enter long directly into the MA99 resistance without confirmation.
• Key Resistance Flip: 0.850+ needs to clear definitively for the bullish continuation signal to engage.
🔑 KEY RISKS:
• Buyers lose control again if price drops under 0.820. This would signal a failure to overcome resistance and likely lead to a retest of lower support.
• Market Behavior: Controlled trend up, but it's currently a test of overhead supply, not a confirmed breakout.
My Opinion: Patience is key here. Wait for the price to successfully flip 0.850 to support before expecting the next leg up. Until then, the risk of a rejection outweighs the reward.