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06/11 18:26
Pivot Point Holding Steady as Momentum Grows VIRTU
VIRTUAL token was trading higher than its pivot point of $2.04 at the time of the report, which indicates that buyers may be gaining control. As Bollinger Bands have contracted to a bandwidth of only 24.24%, the low volatility level as shown in the chart presents the possibility for a breakout. unnamed (50).png
The RSI, which is at 36.36, also reveals that the token has been oversold, so there might be an excellent opportunity for a price rise.
Technically, the high ADX level adds weight to the notion that any directional move, beginning here, might be powerful. The MACD indicator is approaching a bullish crossover that would confirm additional upside.
The analysis, however, also cautioned that the trading volume needs to pick up if the price rally move must be maintained in the longer run.
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