$VELODROME $ 💥VELODROME/USDT🚨🚨🚨
🫠Technical analysis and Targets 🌟🌟🌟
ANALYSIS (key observation )
1. Price Action:
The price ($0.1832) is slightly below the longer-term EMA values (EMA(25): $0.1842, EMA(99): $0.1846).
This suggests mild bearish pressure or consolidation in the short term.
2. RSI (Relative Strength Index):
RSI(6) = 44.0353 is in the neutral range (30–70), indicating no immediate overbought or oversold conditions.
A value near 40 suggests mild bearish momentum but room for recovery.
3. Support and Resistance Levels:
Support: Closest support is near the 24h low ($0.1782).
Resistance: Closest resistance is near the 24h high ($0.1927).
Mid-range resistance can be identified around $0.1850 (close to EMA(25)).
4. Volume:
Moderate trading volume indicates active participation but no signs of a breakout or breakdown yet.
Short-Term Price Prediction (Next 24–48 Hours)
1. Bearish Scenario:
If the price falls below $0.1800, it could test the key support at $0.1782. A break below this could lead to further declines toward $0.1750.
2. Bullish Scenario:
If the price breaks above $0.1850 (near EMA(25)), it could retest the $0.1927 resistance. A successful breakout could push the price toward $0.1950–$0.2000.
Mid-Term Price Prediction (Next 7 Days)
1. Targets in a Bullish Trend:
First Target: $0.1950
Second Target: $0.2000
Extended Target: $0.2100
2. Targets in a Bearish Trend:
First Support: $0.1782
Second Support: $0.1750
Extended Drop: $0.1700
Summary of Strategy
Bullish Entry: Look for a breakout above $0.1850 with strong volume.
Bearish Entry: Enter below $0.1800 if bearish momentum builds.
Neutral Approach: Monitor the range between $0.1800 and $0.1850 for potential breakouts.
Let me know if you'd like further analysis or strategy breakdown!