๐ฏ $VELODROME /USDT Technical Analysis Targets Unlocked!๐ฏ๐๐๐๐
Current Price: $0.231 (+22.68%)
VELODROME is making waves in the DeFi market with a notable 24-hour high of $0.2344. Letโs dive into the price action and identify 3 potential targets for traders:
Technical Overview
Support Level: $0.2201 (SAR Indicator)
Resistance Zones: $0.250, $0.275, and $0.300
๐ฏ Target 1 โ $0.250
If the price breaks above its recent high of $0.2344, the next target is $0.250, aligning with minor resistance. This target is achievable with current bullish momentum.
๐ฏ Target 2 โ $0.275
A successful rally beyond $0.250 can push the price to $0.275, a crucial resistance where traders might lock profits. Keep an eye on volume to confirm this breakout.
๐ฏ Target 3 โ $0.300
In an extended bull run, $0.300 is the psychological level to watch. This target reflects market optimism and requires sustained momentum.
Key Indicators
SAR (0.02, 0.2) at $0.2201: Strong support for trend continuation.
Momentum: Short-term gains in the 15m (+10.21%) and 1h (+7.59%) timeframes highlight buying pressure.
Trading Strategy
๐ Entry: Look for a pullback near $0.220-$0.230 before the next leg up.
๐ Stop Loss: Place below $0.210 to manage risk.
๐ Take Profit: Gradually book profits at each target level.
VELODROME is a DeFi star today, but remember that market trends can shift quickly. Stay updated with the latest technicals and trade wisely!