The broader structure on VIRTUALS continues to follow a clean Elliott Wave progression, with price currently moving through what appears to be the final stages of a larger degree wave ② correction. This phase is typically designed to reset sentiment, clear excess leverage, and prepare the market for the next impulsive cycle.
The chart highlights a critical Target Area, supported by:
0.5 retracement at 0.3215 (also acting as invalidation)
0.618 retracement at 0.1675 (ideal C-wave termination)
0.786 retracement at 0.0662 (extreme scenario)
This confluence creates a structurally important demand zone. As long as price holds above the 0.3215 invalidation, the bullish macro structure remains intact.
Bullish Continuation Path
If wave ② completes inside the target zone, the next multi-month impulsive cycle would naturally project:
Wave 3 (1.618 extension): ~$18.17
These levels reflect proportional Fibonacci relationships often observed in early-cycle expansions.
Bearish Alternative
Losing the invalidation at 0.3215 opens the door for:
A deeper C-wave
Sweeps of 0.1675 and potentially 0.0662
Completion of a higher-degree corrective reset before a true bottom is found
While still structurally valid, this would delay the next impulsive cycle.
Final Thoughts
Momentum indicators are nearing oversold conditions, and the wedge structure hints that the market is approaching completion of its corrective phase. Whether price bottoms at the 0.5 or 0.618 retracement, the broader Elliott Wave count suggests that VIRTUALS is preparing for its next major expansion phase—one that could carry significantly beyond the 2024 highs.
The chart highlights a critical Target Area, supported by:
0.5 retracement at 0.3215 (also acting as invalidation)
0.618 retracement at 0.1675 (ideal C-wave termination)
0.786 retracement at 0.0662 (extreme scenario)
This confluence creates a structurally important demand zone. As long as price holds above the 0.3215 invalidation, the bullish macro structure remains intact.
Bullish Continuation Path
If wave ② completes inside the target zone, the next multi-month impulsive cycle would naturally project:
Wave 3 (1.618 extension): ~$18.17
These levels reflect proportional Fibonacci relationships often observed in early-cycle expansions.
Bearish Alternative
Losing the invalidation at 0.3215 opens the door for:
A deeper C-wave
Sweeps of 0.1675 and potentially 0.0662
Completion of a higher-degree corrective reset before a true bottom is found
While still structurally valid, this would delay the next impulsive cycle.
Final Thoughts
Momentum indicators are nearing oversold conditions, and the wedge structure hints that the market is approaching completion of its corrective phase. Whether price bottoms at the 0.5 or 0.618 retracement, the broader Elliott Wave count suggests that VIRTUALS is preparing for its next major expansion phase—one that could carry significantly beyond the 2024 highs.
Haftungsausschluss
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.