$VELODROME /USDT Technical Analysis & Trade Signal
Current Price: $0.2016 (up 6.61% in the last 24 hours)
Trend: Bullish short-term (6.61% increase) with a potential for continuation as long as price holds above support levels.
Support Levels: $0.1804 (previous low) and $0.1886 (depth buy level)
Resistance Levels: $0.2064 (24h high), $0.2077 (depth resistance)
Momentum:
Bullish Momentum: The price has been rising and is approaching key resistance. The 24h volume for VELODROME is strong, indicating buying interest. If the price breaks above $0.2064, it could signal further bullish momentum.
Trade Signal:
1. Entry: Buy near $0.2016 (current price)
2. Target Levels:
First Target: $0.2064 (breakout above recent high)
Second Target: $0.2077 (resistance depth level)
Third Target: $0.2100 (psychological level, potential next resistance zone)
3. Stop-Loss: Below $0.1804 (if price falls below support, trend could reverse)
Conclusion: The market is currently showing bullish momentum. Traders may look for an entry around the current price with targets set towards the resistance levels. Keep an eye on price action around $0.2064 as a breakout above could accelerate the upward movement.
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