$VELVET is testing a supply zone with weakening momentum.
Trading Plan Short $VELVET
Entry: 0.107 – 0.113
SL: 0.120
TP1: 0.100
TP2: 0.092
TP3: 0.084
The move up is losing strength, showing signs of buyer absorption rather than continuation.
Failure to break higher could lead to rejection and a broader downside move.
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VELVETUSDT
Perp
0.11596
-1.71%