📈 $VELVET Pulling Back to Crucial Support: Buy the Dip or Wait? 🚀
After hitting a 24-hour high of $0.78501, $VELVET is facing localized selling pressure, cooling down to $0.67729. The 15-minute candles are grinding near the lower Bollinger Band support. With a neutral-to-bearish RSI sitting at 44.14, the price is looking for a solid base. If this immediate lower boundary holds, it sets up a highly favorable risk-to-reward entry for a technical bounce back toward the mid-band.
Entry Zone: $0.65500 - $0.67500 (Accumulating near the lower Bollinger Band)
Take Profit 1 (TP1): $0.69500 (Immediate resistance at the Middle Band)
Take Profit 2 (TP2): $0.72500 (Recent local swing high)
Take Profit 3 (TP3): $0.77000+ (Targeting a full retest of the 24h high)
Stop Loss (SL): $0.64200 (Placed safely below the immediate psychological support line)
👇 $VELVET is hovering right on its short-term support line! Are you stepping in to accumulation here, or do you expect a deeper correction? Let us know below! 👇
#VELVET #CryptoTrading #TechnicalAnalysis #BinanceSquare #DEF i
After hitting a 24-hour high of $0.78501, $VELVET is facing localized selling pressure, cooling down to $0.67729. The 15-minute candles are grinding near the lower Bollinger Band support. With a neutral-to-bearish RSI sitting at 44.14, the price is looking for a solid base. If this immediate lower boundary holds, it sets up a highly favorable risk-to-reward entry for a technical bounce back toward the mid-band.
Entry Zone: $0.65500 - $0.67500 (Accumulating near the lower Bollinger Band)
Take Profit 1 (TP1): $0.69500 (Immediate resistance at the Middle Band)
Take Profit 2 (TP2): $0.72500 (Recent local swing high)
Take Profit 3 (TP3): $0.77000+ (Targeting a full retest of the 24h high)
Stop Loss (SL): $0.64200 (Placed safely below the immediate psychological support line)
👇 $VELVET is hovering right on its short-term support line! Are you stepping in to accumulation here, or do you expect a deeper correction? Let us know below! 👇
#VELVET #CryptoTrading #TechnicalAnalysis #BinanceSquare #DEF i