$VELVET — Another liquidity sweep hits the market.
Long $VELVET
Entry: 0.4700 – 0.4820
SL: 0.4520
TP1: 0.5100
TP2: 0.5500
TP3: 0.6000
A fresh $2.85K long liquidation just hit VELVET at $0.47805, forcing leveraged bulls out of the market and triggering a short-term liquidity sweep. The move has increased volatility and cleared excess leverage, helping reset market conditions after the recent rally.
Price is now testing a critical support region where buyers may begin defending the broader trend. Despite the liquidation pressure, the structure remains constructive as long as demand continues to absorb supply near current levels.
If VELVET holds the 0.4700–0.4820 support zone and reclaims 0.5100 resistance, momentum could quickly shift back toward the bulls. With leverage flushed from the market and selling pressure beginning to ease, the setup remains favorable for a recovery toward higher targets as confidence gradually returns.
