Virtual Protocol - long opportunity after temporary correction

Dec 30, 2024

The price started to break below the ascending wedge in 4H chart. The price also broke below the previous higher high at $3.5389 and closed. MACD , RSI, and Stochastic are in the bull territory but stochastic and RSI are forming negative divergence. Virtual Protocol is one of the strongest project in this crypto cycle so I am not opening a leverage short position. However, I took a small profit at $3.50. I intend to add more to my existing holding and for that I am waiting for the price to clearly fall below the bottom ascending trend line. I drew the Fib retracement li from $2.2392 to $3.7294 . Based on that, 0.5 retracement level falls to the previous week mid price level. 0.618 level is where the big buyer block is sitting. So I will keep an eye on that zone and if the price starts to go up and also all momentum indicators start to point upwards without going into oversold territory, I will buy more.

Dec 31, 2024

Trade active

The upward momentum might be too strong for AI agent coins so the price may not pull back to Fib0.5 level. All the momentum indicators are still pointing downwards, although they are firmly in the bull zone.
If the price breaks above the weekly high and momentum indicators start to cross and move upwards, I will check Daily chart: If stochastic (9,3,3) in Daily is not over bought terriroty and lines are moving upwards, I will add more to my position.