$VELVET Momentum Fading — Sellers Are Stepping in And It Should Go Down From here🔥
$VELVET is showing signs of weakness after a sharp parabolic move, hinting at a potential pullback.
🚨 Trade Setup (Short)
📊 Entry Zone: 0.130 – 0.138
🛑 Stop Loss: 0.150
🎯 Targets:
TP1: 0.125
TP2: 0.115
TP3: 0.105
TP4: 0.098
💡 After a strong vertical rally, price is facing rejection near 0.137, forming a long upper wick — a sign of selling pressure.
📊 RSI is overbought and starting to turn down, while volume shows a spike followed by selling, indicating buyer exhaustion.