Virtuals Protocol (VIRTUAL) has experienced a 15% decline in the past 24 hours following a robust 200% rally over the previous 30-day period. As the token approaches a critical resistance level near $1.53, technical indicators are signaling a potential weakening of upward momentum.

Smart Money wallets, which hold a significant portion of VIRTUAL tokens, have increased their positions by 14.4% in the last week, rising from 16.49 million to 18.57 million tokens on May 2, and maintaining a steady balance around 18.54 million tokens since then. This accumulation suggests that experienced investors remain optimistic about the long-term prospects of the asset, even amidst the recent price correction.

The token's current position represents a pivotal moment for both technical and psychological reasons. Market participants are closely monitoring whether VIRTUAL can consolidate and potentially break through the $2 resistance level, or if it will retreat towards the support level at $1.19. The stability in Smart Money wallet holdings, despite the recent pullback, indicates a cautious approach rather than panic selling, which could imply either continued confidence in the asset's upward trajectory or a strategic wait before making further moves.

The BBTrend indicator, which measures the strength and direction of a trend based on Bollinger Bands, has dropped significantly to 6.76 from 31.91 just two days prior, reflecting a notable reduction in upward momentum. Historically, values above zero have indicated bullish trends, with higher readings suggesting stronger momentum. Since April 24, VIRTUAL's BBTrend has remained in positive territory, signaling sustained bullish activity for nearly two weeks. Although the current reading of 6.76 still denotes a positive trend, the rapid decline suggests that the intensity of the recent rally may be subsiding.

This moderation in momentum might indicate a phase of consolidation or diminished buying pressure. Traders will need to observe whether the BBTrend stabilizes or continues to fall, as this could determine whether VIRTUAL regains its upward momentum or experiences further declines.

Currently trading just below the key resistance level of $1.53, a return of buying pressure—potentially driven by renewed enthusiasm for crypto AI agents—could push VIRTUAL toward testing the $1.89 level in the near term. A successful breach of this level would create a pathway for the token to potentially surpass the $2 threshold, a milestone it last achieved on January 30.

Conversely, failure to recapture the $1.53 level could result in a downward adjustment, particularly considering the recent softening in trend strength. In such a scenario, the next major support level would be located at $1.19.

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