I published this analysis on $VELVET a few days ago, and before that, I posted a bearish signal, saying that if a breakout occurred, it would mean an upward move; otherwise, there would be a sell-off. And that's what happened. There was no sideways breakout, but something positive happened: a strong slide. The currency is expected to return to 0.3000 or 0.2000. Currently, these are not good areas for speculation.
{future}(VELVETUSDT)
Ethereum Update
The current bounce is stronger than what's typically expected for a Wave (4), but the primary bullish scenario remains valid.
The move lower from the June 15 high unfolded as a three-wave decline, leaving room for one final push lower to complete a full five-wave structure from that peak.
At the same time, if $ETH breaks decisively above the initial resistance zone between $1,636 and $1,668, it could shift toward a broader flat correction, supporting the alternate bullish out...