- The 112 best wallets now have nearly $ 16 million in virtual and indicate a high conviction.
- Derivatives data show an optimistic distortion of positive funding and long positions.
Following the rally of 237%last month, the Virtuals Protocol (Virtual) fell in the correction stage, decreasing 13%daytime and 2.3%per day.
Despite these fullbacks, fictional is overall accumulated, indicating that the market is extensively optimistic. The method is as follows:
Smart Money gets more virtual
According to a recent analysis of Nansen, Virtual has become AI token of Smart Money. This wallet (known as a testicular strategy) has been quietly established.
Source: Nansen
In fact, 112 smart money wallets have virtual and are as large as the total of three tokens with the next three of the three most tokens with 114 holders.
These 112 wallets currently have $ 198.2 million of their assets. Participation in this level and the book suggests a strong conviction on the potential of assets.
Market traders match smart money
Smart Money has a virtual, but the strong interest is building across the place and derivatives.
In the last 72 hours, SPOT Market has recorded $ 57 million in virtual purchases, and most people have escaped from exchanges that interfere with Smart Money behavior.
Meanwhile, a longer position appeared in the derivative market.
Source: COINGLASS
It was maintained positively by combining the public interest rate (public interest and financing rate) to predict the market direction.
Positive reading suggests that most of the $ 255 million unstable derivatives are from long traders.
When the derivatives market is steadily accumulated in the spot market, it usually supports positive price movement.
The rebound is close -the chart is revealed
The Blinger Bands (BB), which is used to predict potential resistance and support based on price arrangements, suggests that relief bounce may be close.
On the day’s chart, the price is approaching about $ 1.70 to the middle band. This level can work with potential support and increase prices.
The short -term goal of this rally is $ 2.26 and the long -term goal is over $ 5.
Source: TradingView
In addition, the accumulation/distribution (A/D) indicator was slightly upward.
But it suggests that it remains in negative territory, and that all investors are not yet convinced.
Nevertheless, continuous price bounce can reinforce the A/D indicators with a strong terrain to strengthen the virtual long -term rise.