The US missile strikes Iran, with SPX, VIRTUAL, and WIF leading the fall in the crypto assets market.

Gate News bot message, with the U.S. intervening in the Israel conflict, the Crypto Assets market is generally showing a loss. As of the time of writing, the trading price of Bitcoin (BTC) is fluctuating around $105,000, while meme coins like SPX6900 (SPX) and Dogwifhat (WIF) are leading the market pullback alongside Virtuals Protocol (VIRTUAL).

FXStreet analyst Vishal Dixit stated that VIRTUAL has dropped nearly 1%, with a cumulative decline of more than 8% so far this week. This AI agent token closed below the 50-day moving average support level, falling 6.80% the previous day, putting pressure on the support level of $1.64 from the low on May 17.

If the daily closing price is below $1.64, the bearish trend may continue to the support level of $1.39, as highlighted by the closing price on May 7. The 100-day moving average at $1.57 may provide short-term to mid-term support.

The downward trend of the MACD indicator crossing below the zero line along with the signal line indicates a surge in bearish momentum.

If VIRTUAL rebounds from the support level of $1.64 and breaks through the weekly high of $2.01, it may weaken the downside risk.

(Source: FXStreet)