Virtuals Protocol (VIRTUAL) Soars Following Upbit Exchange Listing Announcement: Are More Gains Ahead?

Date: Fri, Jan 31, 2025, 08:48 AM GMT

In the cryptocurrency market today, Virtuals Protocol, the launchpad that enables users to create, deploy, and tokenize AI agents without any technical expertise, is coming in spotlight as its native token $VIRTUAL surges by over 15% in the last hour following a major listing announcement.

Source: Coinmarketcap

Upbit Announces Virtuals Protocol (VIRTUAL)

The sharp price increase comes after Upbit, South Korea’s leading cryptocurrency exchange, confirmed that it will begin trading support for VIRTUAL. According to the announcement , trading will commence at 20:00 KST on January 31, 2025, across multiple markets, including KRW, BTC, and USDT pairs.

Source: @Official_Upbit (X)

This listing is expected to boost liquidity and exposure for the token, potentially driving further demand.

Are More Gains Ahead?

At the time of writing, VIRTUAL is trading at $2.36 and appears to be consolidating within a falling wedge pattern. The token recently found support around $1.85, which aligns with the lower boundary of the wedge. With today’s pump, VIRTUAL is approaching a crucial resistance level.

$VIRTUAL Daily Chart/ Coinsprobe (Source: Tradingview)

If VIRTUAL breaks above the wedge resistance, the next significant barrier will be the 25-day Simple Moving Average (SMA). A successful breakout beyond this level could push the price toward $3.14, followed by a potential move to $3.91.

The MACD indicator on the chart is showing early signs of a bullish crossover, suggesting that buying momentum could be increasing.

However, if the price fails to break out, it could revisit the wedge’s lower support before another attempt at a breakout.

Final Thoughts

With a combination of bullish technical signals, increasing trading volume, and the upcoming Upbit listing, VIRTUAL is at a decisive moment. If momentum continues in its favor, the token could see significant gains in the coming days. However, traders should monitor key resistance levels and broader market conditions before making any moves.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.