$VELVET is up +87.71% in 24 hours, sitting at $1.5242. 90 days: +1,811.46%.
Here's the full picture, both sides of it:
The bullish case: all 3 moving averages remain below price. MA7 at $1.367, MA25 at $0.767, MA99 at $0.572. Structurally, the trend is still intact, and this started from a $0.382 bottom not long ago.
The risk: order book is 70.28% asks vs just 29.72% bids. Sellers still hold a clear majority even as price prints another green candle. That's real resistance standing between here and the next leg up.
The numbers:
Today: +8.81%
7 Days: +198.98%
30 Days: +1,530.16%
24h Volume: $1.13B USDT
This is one of the strongest momentum plays on Binance right now, but it's not a one-sided story. Structure says bullish, order flow says caution.
My take: if you're trading this, respect both signals. The trend is real, but so is the selling pressure stacked above current price.
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Extreme volatility. Not financial advice. DYOR.
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