$VELODROME /USDT – Bearish Pullback or Reversal Opportunity? 🔻

Entry Zone: $0.1770 - $0.1790

Targets:

1. $0.1825

2. $0.1850

3. $0.1890

Stop Loss: $0.1745

Market Insights

$VELODROME /USDT is experiencing a 6.80% decline, currently testing a strong support zone near $0.1770. Key observations:

MA(7): $0.1791, indicating immediate resistance for a potential recovery.

MA(25): $0.1828, critical for short-term bullish momentum.

MA(99): $0.1838, a key resistance for medium-term trend confirmation.

The price action suggests oversold conditions with potential for a rebound, but confirmation of buying pressure above $0.1800 is essential.

Strategy Tip:

Monitor for a breakout above $0.1800 to confirm bullish momentum. Use strict risk management with stop-loss placement to safeguard against volatility.

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