The post VIRTUAL explodes 86%, then stalls Traders, watch THIS closely appeared com. VIRTUAL token rallied 86% within the first week of January, rising from $0. 642 to $1. 198. After this remarkable frenzy of buying, the altcoin saw subdued demand and momentum. At the time of writing, it was trading at $0. 975. A daily session close below the $1 mark would not be a good sign for the bulls in the short term. Back then, a breach of a descending trendline saw a rally that reached $2. 5. Will the current breakout achieve similar results? VIRTUAL bulls’ defense of $1 could dictate the next move The Virtuals Protocol [VIRTUAL] token saw a bullish start to the year, like many other altcoins. CoinMarketCap data showed that the AI sector expanded by over 20% in the first week of the month. VIRUTAL was not the only token whose performance exceeded expectations. The 50% retracement level of the impulse move would be the first test. If $0. 918 is defended from the sellers, more upside and new highs would be highly likely. The MACD and CMF showed upward momentum and strong capital inflows at the time of writing, an encouraging sight for investors. There were two notable spikes in the past two weeks, on the 30th of December and the latest on the 8th of January. The former indicated a potential capitulation as the price sank toward new multi-month lows. The sudden turnaround to start the new year prompted a wave of profit-taking once the momentum began to slow.
Tag: fibonacci retracement level
The post Nasdaq Elliott Wave: Wave 4 support appeared com. Executive summary Trend bias: Wave 4 temporary correction. Key support level: 23, 854 22, 521. If correct, wave 5 could rally to 25, 950-27, 301. Back on October 7, we analyzed Nasdaq 100 (NDX) and the diverging RSI hinted of an incoming bearish reversal. Turns out, there was a relatively small reversal on October 10 at -3. 5% that was quickly retraced and led to new all-time highs. Then, beginning October 29, NDX began another decline of nearly -8. 9%. The structure of the decline hints that it is a corrective decline eventually leading to new all-time highs. Current Elliott Wave analysis Our Elliott wave analysis of the Nasdaq 100 (NDX) chart hints the rally that began in April has reached the end of its 3rd wave. The 3rd wave of an Elliott wave impulse pattern needs to subdivide in 5 waves and we can count those waves in place from the April 21 low labeled ((i))-((ii))-((iii))-((iv))-((v)). This suggests the correction from October 29 is wave 4 of a larger 5-wave impulse pattern. Wave 4 and wave 2 are cousin waves. they are similar, but tend to alternate in qualities. They should be similar in the depth of their corrections. Wave 2 of the impulse pattern (in April 2025) corrected -8% as a zigzag pattern. Wave 4, so far, has corrected about -8. 9%, similar to wave 2. Additionally, wave 4 has reached the 23. 6% Fibonacci retracement level of the distance of wave 3 (not pictured). This is common for wave 4 to correct between 23-50% of wave 3. Lastly, the decline from last week has reached horizontal support from the previous 4th wave symmetrical triangle pattern. As a result, the decline to the Friday, November 21 low, may be all or part of wave 4. When wave 5 begins, we anticipate a rally that may reach.
Ethereum price has remained on edge in the past few months, moving from the year-to-date high of $4,945 in August to the current $3,412. Ethereum (ETH) token has pulled back as sentiment in the industry has waned, with the Crypto.