$VELVET Momentum Fading โ Sellers Are Stepping in And It Should Go Down From here๐ฅ
$VELVET is showing signs of weakness after a sharp parabolic move, hinting at a potential pullback.
๐จ Trade Setup (Short)
๐ Entry Zone: 0.130 โ 0.138
๐ Stop Loss: 0.150
๐ฏ Targets:
TP1: 0.125
TP2: 0.115
TP3: 0.105
TP4: 0.098
๐ก After a strong vertical rally, price is facing rejection near 0.137, forming a long upper wick โ a sign of selling pressure.
๐ RSI is overbought and starting to turn down, while volume shows a spike followed by selling, indicating buyer exhaustion.
#VELVETUSDT
$VELVET is showing signs of weakness after a sharp parabolic move, hinting at a potential pullback.
๐จ Trade Setup (Short)
๐ Entry Zone: 0.130 โ 0.138
๐ Stop Loss: 0.150
๐ฏ Targets:
TP1: 0.125
TP2: 0.115
TP3: 0.105
TP4: 0.098
๐ก After a strong vertical rally, price is facing rejection near 0.137, forming a long upper wick โ a sign of selling pressure.
๐ RSI is overbought and starting to turn down, while volume shows a spike followed by selling, indicating buyer exhaustion.
#VELVETUSDT