$VELVET is now flashing weakness after parabolic move

Short $VELVET

Entry: 0.130 โ€“ 0.138

SL: 0.150

TP1: 0.125

TP2: 0.115

TP3: 0.105

TP4: 0.098

Why:

After a strong vertical rally, price is now facing rejection near 0.137 with a long upper wick. RSI is already overbought and starting to turn down, while volume shows a spike followed by selling pressure. This looks like exhaustion at the top, and unless it reclaims 0.138, a pullback is likely.

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VELVETBSC
VELVETUSDT
0.11681
-2.56%