After a strong impulsive push, $VELO price failed to hold the highs and faced aggressive rejection, leading to a sharp breakdown toward the 0.0060 zone. The bounce from lows looks corrective rather than a true reversal, with structure still capped below key resistance. As long as price stays below the prior supply area, sellers remain in control.

Trade Setup:

Entry Range: 0.00620 – 0.00628

Target 1: 0.00605

Target 2: 0.00590

Target 3: 0.00575

Stop Loss (SL): 0.00645