Technical Analysis: $VELODROME /USDT
Current Price: $0.1838 (+5.09%)
24H Range: $0.1660 - $0.1850
Volume: 114.28M
Targets and Analysis:
1. Immediate Target: $0.1850
Price is testing a local resistance zone near $0.1850, aligning with today’s 24H high. A breakout above this level could attract momentum buyers.
2. Next Target: $0.1900
If $0.1850 is broken, $0.1900 is a psychological level that could act as the next resistance. This aligns with the broader bullish channel trendline.
3. Extended Target: $0.2000
A sustained rally with high volume could push the price toward $0.2000. Monitor price action for rejection or continuation near this zone.
Strategy:
Secure Partial Profits: As price approaches $0.1850, consider taking partial profits.
Stop Loss: Place a stop loss at $0.1760 to manage risk effectively.
Entry Zones: Look for entries on pullbacks around $0.1800 - $0.1820 if volume confirms strength.