Key Notes
- Following the x402 rollout, weekly agent-to-agent transactions on the Virtuals network jumped fivefold.
- Despite strong momentum, the RSI above 90 indicates overbought conditions.
- Analysts expect a correction toward the $1.15-$1.25 support zone before any renewed push toward $1.70 or $2.10 resistance levels.
VIRTUAL
VIRTUAL
$1.48
24h volatility:
20.3%
Market cap:
$968.09 M
Vol. 24h:
$595.26 M
, the native cryptocurrency of the Virtual Protocol has seen a strong upside, shooting nearly 100% in the last 4 days while hitting the highs of $1.63 earlier today.
However, it’s now facing a slight pullback, trading around $1.41 after being rejected near the $1 billion market cap level.
What’s Behind the Virtuals Protocol Price Rally?
The recent rally in Virtuals Protocol appears to be driven by the project’s integration of Coinbase’s x402 protocol into its ecosystem.
The x402 protocol is an open payment standard developed by crypto exchange Coinbase, as it seeks the OCC Federal charter.
It allows AI agents and services to execute instant, on-chain stablecoin payments directly over HTTP, thereby eliminating the need for user accounts, subscriptions, or complex authentication.
Following the integration, weekly agent-to-agent transactions on the Virtuals network surged sharply, rising from under 5,000 to over 25,000 in the week beginning October 19. This signals a rapid adoption of the new capability.
In addition to the x402 integration, the Virtuals ecosystem has seen accelerating growth across multiple fronts, including autonomous trading tools, robotics applications, and DeFi integrations.
Moreover, broader ecosystem developments such as Coinbase support and expanded cross-chain functionality are further strengthening network activity and investor confidence.
Will the VIRTUAL Price Action Continue
The VIRTUAL price has seen a strong momentum following the breakout past $1.0, and rallying all the way to the highs of $1.63 earlier today.
Now, it is facing some pullback and is currently trading at $1.41 levels, with a market cap of $945 million as of press time. This latest rally comes along with the broader crypto market upside today.
VIRTUAL is expected to find key support in the $1.15-$1.25 range. A successful rebound from this zone could confirm a trend reversal, paving the way for potential upside targets at the $1.70 and $2.10 Fibonacci resistance levels.
VIRTUAL price eyes upside target of $1.70.
The Relative Strength Index (RSI) has climbed above 90, indicating that VIRTUAL is in overbought territory. This suggests that holder profits are reaching elevated levels, a condition that often precedes short-term corrections.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar on X
Source: https://www.coinspeaker.com/whats-behind-the-100-virtuals-protocol-virtual-price-rally/
