The crypto market today is witnessing explosive momentum as Bitcoin surges past the $115,000 mark, reigniting bullish sentiment across the board. Major altcoins like Virtual Protocol (VIRTUAL), Zcash (ZEC), and Dash (DASH) are skyrocketing, reflecting renewed investor confidence and growing market liquidity ahead of a high-volatility week.
With traders eyeing key macro events and technical breakouts, the digital asset space is buzzing with optimism. The big question now: can this rally be sustained, or is the market gearing up for another round of sharp corrections?
### Virtual Protocol (VIRTUAL) Price Breaks Bearish Pattern
Over the past few months, the Virtual Protocol price had been stuck within a descending parallel channel. The token attempted a breakout but resulted in yet another lower high, indicating the rising strength of the bears. However, it has now broken above this structure following a strong influx of buying volume, suggesting that the VIRTUAL price is poised for a strong upswing.
The price broke above the channel with a significant increase in buying pressure. Technical indicators point towards a consolidation phase ahead of the next breakout. The Relative Strength Index (RSI) has entered the overbought range and appears to be flattening. On the other hand, the On-Balance Volume (OBV) has spiked and continues to rise steadily.
A flattening RSI combined with rising OBV is typically a bullish signal, hinting at accumulation during consolidation. This implies that smart money is quietly buying regardless of price movement, creating bullish pressure beneath the surface. Therefore, traders can expect a cooling phase before VIRTUAL breaks the resistance zone between $1.86 and $1.94 — a move that may pave the way for further gains beyond $2, potentially reaching $2.10.
### Zcash (ZEC) Price Eyes 35% Rise to Hit $500
Zcash is experiencing one of its strongest monthly performances in years. Buying volume has surged back to levels reminiscent of the 2021 bull run, driving a steep price rise after a prolonged period of ascending consolidation.
Currently, ZEC has surpassed a key resistance level, which was also the market top during the 2021 bull run. If the price sustains above this range, continued upward momentum could push it toward higher targets.
The price broke through the resistance zone between $293 and $316 and closed the weekly trade above this range, signaling that bulls maintain firm control over the rally. Buying momentum remains strong as the OBV continues to escalate.
Notably, the 50-week and 200-week moving averages have undergone a bullish crossover, which could help sustain the upward trend and drive the price toward the 1.2 Fibonacci level at $471 and the 1.4 Fibonacci level at $522.
### Dash (DASH) Price Awaits a Breakout
Following the rally that lifted the market beyond the 2022 bear market impacts, Dash has been trading within a large descending parallel channel. Every attempt to break the resistance has so far been met with strong rejection. However, the current scenario suggests growing potential for a breakout.
Dash has been defending pivotal support just above $40 for several weeks, signaling a strong base and a possible breakout above $60 in the near term. The price remains within the channel but has secured support at the 200-day moving average.
Volume has surged to levels not seen in recent times, hinting that a breakout could be imminent. Meanwhile, the RSI has re-entered the overbought range. Previously, this indicated a steep rejection, but the current rebound suggests there may still be room for further price gains.
Once the RSI firmly returns to the overbought zone, Dash could break out of the channel and rise beyond the resistance zone between $61 and $63. If these levels are secured, Dash may enter a strong bullish trend, potentially reaching $100 in 2025.
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As Bitcoin and major altcoins continue to show strength, traders and investors will be closely monitoring these key technical levels and market volumes. While optimism runs high, cautious watchfulness for potential corrections remains prudent in this volatile environment.
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