$VELVET Pressure Update

Long liquidation: $4.52K at $1.63566 (BINANCE)

VELVET faced downside pressure as long traders were flushed out. Price needs stabilization before buyers can regain control.

Support: $1.55 – $1.60

Resistance: $1.70 – $1.75

Buy Setup: $1.58 – $1.62

Targets: $1.70 / $1.75 / $1.85

Stop Loss: Below $1.52

Market Direction: Watch for a recovery signal near support. A reclaim of resistance could start a fresh bullish wave.