As of December 18, 2024, Velodrome Finance (VELO) is trading at approximately $0.2046 USDT.
Technical indicators suggest a buy signal for VELO. According to Bitget's analysis, among moving averages, 12 indicators suggest a buy, 1 suggests a sell, and 2 are neutral. Oscillator indicators show 2 buy signals, 0 sell signals, and 8 neutral signals.
For a long position, consider the following levels:
Entry Point: Around the current price of $0.2046 USDT.
Target Levels:
First Target: $0.2470 USDT, the recent 24-hour high, indicating a potential resistance level.
Second Target: $0.2700 USDT, a level that, if surpassed, may indicate the start of a strong uptrend.
Stop Loss: Set at $0.1984 USDT, the recent 24-hour low, to mitigate potential losses.
Please note that cryptocurrency markets are highly volatile. It's essential to conduct thorough research and consider your risk tolerance before making any trading decisions