$VELODROME /USDT: Short-Term Recovery in Progress

$VELODROME /USDT is showing initial signs of recovery, currently trading at $0.2189 after a strong downward move. The price is bouncing off local support and could aim for higher levels.

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Technical Analysis:

Support Zone: $0.2100 – $0.2150

Immediate Resistance: $0.2250

Key Resistance: $0.2400

The short-term chart suggests a relief rally, with buyers stepping in to halt the previous decline.

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Trading Signal:

Entry Zone: $0.2150 - $0.2189

Targets:

1. Target 1: $0.2250

2. Target 2: $0.2350

3. Target 3: $0.2400

Stop Loss: Below $0.2100

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Market Insights:

VELODROME saw a 24-hour low of $0.2032, making it an attractive rebound opportunity.

Watch for increasing volume near resistance to confirm upward continuation.

Risk Management Tip: Protect gains by adjusting stop loss as the price approaches target levels.

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