$VELVET /USDT EXTREME VOLATILITY AFTER PARABOLIC RALLY – SHARP COOL-OFF MAY EXTEND FURTHER 📉
VELVET/USDT is currently trading around 1.57, after an explosive move that pushed price up nearly +97% recently. However, strong rejection from the 1.90–1.92 zone has triggered aggressive profit-taking, leading to a sharp pullback. The market structure is now highly volatile, and price is trying to stabilize above the 1.50–1.55 support zone. If this level fails, deeper correction is likely.
Trade Setup:
Short Entry:
Aggressive: 1.58 – 1.62
Confirmation Entry: Below 1.50 breakdown
Take Profit (TP):
TP1: 1.45
TP2: 1.30
TP3: 1.10
Stop Loss (SL):
1.95 (above recent rejection high)
Long Setup (Reversal Scenario):
If price holds above 1.50 and shows strong rebound:
Entry: 1.50 – 1.55
TP: 1.70 / 1.85 / 1.95
SL: 1.42
Market Outlook:
Market is in a post-parabolic correction phase with very high volatility. Short-term bias is bearish due to rejection and profit-taking, but long-term trend can remain bullish if support holds and accumulation starts.
#VELVET #USDT #CryptoAnalysis #Volatility #AltcoinWatch
VELVET/USDT is currently trading around 1.57, after an explosive move that pushed price up nearly +97% recently. However, strong rejection from the 1.90–1.92 zone has triggered aggressive profit-taking, leading to a sharp pullback. The market structure is now highly volatile, and price is trying to stabilize above the 1.50–1.55 support zone. If this level fails, deeper correction is likely.
Trade Setup:
Short Entry:
Aggressive: 1.58 – 1.62
Confirmation Entry: Below 1.50 breakdown
Take Profit (TP):
TP1: 1.45
TP2: 1.30
TP3: 1.10
Stop Loss (SL):
1.95 (above recent rejection high)
Long Setup (Reversal Scenario):
If price holds above 1.50 and shows strong rebound:
Entry: 1.50 – 1.55
TP: 1.70 / 1.85 / 1.95
SL: 1.42
Market Outlook:
Market is in a post-parabolic correction phase with very high volatility. Short-term bias is bearish due to rejection and profit-taking, but long-term trend can remain bullish if support holds and accumulation starts.
#VELVET #USDT #CryptoAnalysis #Volatility #AltcoinWatch