$VELO Price failed to sustain above the recent swing high and printed a sharp rejection followed by strong bearish candles. The structure shows loss of bullish momentum, and the impulsive drop confirms sellers have taken control. As long as price remains below the previous support-turned-resistance, downside continuation is favored.

Trade Setup (Short):

Entry Range: 0.00570 – 0.00580

Target 1: 0.00560

Target 2: 0.00548

Target 3: 0.00530

Stop Loss (SL): 0.00595

Market Outlook:

Overall bias remains bearish below the rejection zone. Any strong reclaim above resistance would invalidate the short, otherwise further downside expansion is likely.