$VELVET Short Setup 📉
After the rejection from the 1.84 resistance zone, $VELVET is showing signs of weakening momentum on the 1-hour timeframe. A break below the local support area could trigger a deeper correction.
🔴 Entry Zone: 1.70 – 1.72
🎯 Target 1: 1.62
🎯 Target 2: 1.55
🎯 Target 3: 1.48
🛑 Stop Loss: 1.86
As long as the price remains below the recent high, the downside scenario remains valid. A breakdown below the 1.66 support area could increase selling pressure and accelerate the move toward lower targets.
⚠️ Always use proper risk management and position sizing when trading leveraged products.
This is not financial advice. Please do your own research.
#VELVET #VELVETUSDT #Crypto #Binance #Futures
After the rejection from the 1.84 resistance zone, $VELVET is showing signs of weakening momentum on the 1-hour timeframe. A break below the local support area could trigger a deeper correction.
🔴 Entry Zone: 1.70 – 1.72
🎯 Target 1: 1.62
🎯 Target 2: 1.55
🎯 Target 3: 1.48
🛑 Stop Loss: 1.86
As long as the price remains below the recent high, the downside scenario remains valid. A breakdown below the 1.66 support area could increase selling pressure and accelerate the move toward lower targets.
⚠️ Always use proper risk management and position sizing when trading leveraged products.
This is not financial advice. Please do your own research.
#VELVET #VELVETUSDT #Crypto #Binance #Futures