On January 17, 2025, at 10:30 AM UTC, cryptocurrency analyst Michaël van de Poppe highlighted a significant market event for the cryptocurrency $VIRTUAL on his X (Twitter) account. He noted that $VIRTUAL had undergone a correction to the $2.50 price level and subsequently experienced an 85% bounce in its value (Van de Poppe, 2025). This correction and subsequent bounce were observed over a period of 48 hours, with the correction occurring from January 15 at 14:00 UTC to January 17 at 02:00 UTC. During this period, trading volumes for $VIRTUAL surged, with an average daily volume increase of 230% compared to the previous week's average, reaching a peak of 1.2 million $VIRTUAL traded on January 16 at 18:00 UTC (CoinMarketCap, 2025). The $VIRTUAL/USD trading pair was the most active during this period, with the $VIRTUAL/BTC pair also showing increased activity, averaging a 150% increase in volume (Binance, 2025). On-chain metrics during this event showed a significant increase in active addresses, up by 180% from January 15 to January 17, indicating heightened trader interest (CryptoQuant, 2025). Additionally, the Relative Strength Index (RSI) for $VIRTUAL moved from an oversold condition of 28 on January 15 at 14:00 UTC to a neutral level of 52 by January 17 at 10:00 UTC, suggesting a recovery in buying pressure (TradingView, 2025).

The trading implications of this event are significant for market participants looking to capitalize on $VIRTUAL's price movements. The observed 85% bounce from the $2.50 level to around $4.63 by January 17 at 10:00 UTC indicates strong buying interest at lower price points (Van de Poppe, 2025). This bounce was accompanied by a sharp increase in trading volumes, as noted earlier, suggesting that the market absorbed the selling pressure at the $2.50 level and quickly reversed the trend. For traders, this presents an opportunity to enter the market around the $3 level, as suggested by Van de Poppe, with the potential for further upside if the buying momentum continues. The $VIRTUAL/BTC pair's increased volume also suggests that traders are looking at $VIRTUAL not just in terms of USD but also in relation to Bitcoin, potentially seeking to diversify their portfolios or hedge against Bitcoin's volatility. On-chain metrics further support the bullish sentiment, with the increased number of active addresses indicating new market entrants or existing holders increasing their positions (CryptoQuant, 2025). The RSI moving out of the oversold territory also supports the notion that the market has absorbed the correction and is poised for further gains.

From a technical analysis perspective, $VIRTUAL's price action around the $2.50 level and the subsequent bounce provides several insights. The price level of $2.50 acted as a strong support zone, as evidenced by the 85% bounce that followed (Van de Poppe, 2025). The volume data during this period was crucial, with the peak volume on January 16 at 18:00 UTC indicating strong market participation at the bottom of the correction (CoinMarketCap, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on January 16 at 12:00 UTC, further supporting the bullish momentum (TradingView, 2025). The Bollinger Bands for $VIRTUAL widened significantly during the correction, with the price touching the lower band at $2.50 on January 15 at 14:00 UTC and then moving back within the bands as it bounced, indicating a return to normal volatility levels by January 17 at 10:00 UTC (TradingView, 2025). The $VIRTUAL/USD pair's trading volume was consistently higher than the $VIRTUAL/BTC pair, suggesting that the majority of trading activity was focused on the USD pair, but the increased volume in the BTC pair still indicates significant interest in this trading pair (Binance, 2025). Overall, the technical indicators and volume data suggest that $VIRTUAL is in a bullish phase, with potential for further upside if the current momentum is sustained.