Virtual Protocol's token shows potential for a 135% surge, bucking the trend of smart money withdrawals.
Virtuals Protocol Token Surges Towards 135% Gain as AI Tokens Rally
The price of Virtuals Protocol token, virtual7.48%, has witnessed a significant increase, breaking through a critical resistance level at $2.1270 and reaching an all-time high not seen since January. This surge represents a staggering 430% jump from the token's April low.
The rally in Virtuals Protocol is sparked by the exceptional performance of various AI agents within its ecosystem. On Monday, top performers included Ava AI (30% increase) and aixbt, VaderAI, Ribbita, and Game, which saw gains of over 15%.
The growth trajectory of Virtuals Protocol and other AI-focused tokens might receive a boost from the upcoming NVIDIA earnings report, scheduled for Wednesday. This report could provide insights into the health and potential growth of the AI sector.
Analysts predict that NVIDIA's Q1 revenue will rise by 65% to $43.17 billion, with earnings per share (EPS) expected to increase from $0.61 to $0.73. However, we lack specific data on the total number of shares outstanding to calculate the actual EPS. A strong earnings report from NVIDIA might push AI tokens like Virtuals Protocol and the Artificial Superintelligence Alliance higher.
Despite the encouraging price gains, Virtuals Protocol faces a couple of challenges. According to DeFi Llama data, the network generated $496,000 in revenue this month, which while an improvement on last month's $200,000, pales in comparison to the January high of $3.9 million. Furthermore, whales and smart money investors have been selling their tokens, with smart money investors now holding 7.1 million VIRTUAL tokens, a decrease from the prior high of 11.9 million earlier this month. Whales now hold 24.4 million coins, a drop from nearly 30 million on May 11.
Technical AnalysisUpon examining the daily chart, Virtuals Protocol has risen from its April low of $0.4165 to a high of $2.1271, surpassing the 61.8% Fibonacci retracement level. The token has breached the key resistance at $2.1271, marking the upper boundary of an ascending triangle pattern. Additionally, Virtuals Protocol has broken above the 50-day Exponential Moving Average and is supported by an uptrend in the Relative Strength Index. Given these trends, the token seems poised to continue climbing, aiming for the all-time high of $5.1335, representing a 135% increase from the current price.
Alchemy Pay Integrates PayID, Boosting Crypto Payments in Australia
In related news, Alchemy Pay has announced the integration of PayID, enabling crypto payments to Australian bank accounts. This move is expected to streamline the process and enhance the usability of cryptocurrency transactions in the Australian market. However, due to the distinct subject matter, this development has not been incorporated into the main article to maintain focus on Virtuals Protocol and its trajectory.
- The Virtuals Protocol token's surging price could be attributed to its integrated AI agents, as Ava AI and several others showed impressive gains, hinting at the potential positive impact of crypto technology on the token's performance.
- The decentralized exchange (DEX) value of Virtuals Protocol, projected against bitcoin, is experiencing a spike, reflecting the overall growth in the cryptocurrency market and the increasing popularity of DeFi projects.
- Analysts predict an increase in the Tron-based Virtuals Protocol token's value further, with a 135% climb aimed for following a break from the key resistance, mirroring the upward trend set by bitcoin.
- However, despite the current crypto rally, Virtuals Protocol faces challenges with decreasing token holdings by whales and smart money investors, raising concerns about possible future selloffs and potential downward pressure on the token price.
