I will analyze the technical aspects of $VELODROME to provide scenarios and trading recommendations:
1. Trend and Momentum Analysis:
- Price has been fluctuating in the range of 0.196-0.205 in the last 4 hours
- RSI (6,12,24) is in the neutral zone (40-60), indicating no clear trend
- MACD is forming a slight positive divergence signal
- Trading volume is gradually decreasing, indicating a lack of strong buying power
2. Money Flow Analysis:
- Buy/Sell Volume ratio is quite balanced around 50/50
- CMF20 is slightly negative (-0.12), indicating selling pressure is still present
- MFI14 is in the neutral zone (~65), with no overbought/sold signals yet
3. Scenarios in the next 4-24 hours:
Scenario 1 (probability 60%):
- Price sideways in the range of 0.195-0.205
- Signs: Low volume, neutral momentum indicators
- TP: 0.205 / SL: 0.195
Scenario 2 (probability 40%):
- Breakout to the range of 0.21-0.215
- Signs: MACD positive divergence, RSI trending up
- TP: 0.215 / SL: 0.198
4. Recommendations:
- DO NOT RECOMMEND OPENING LONG/SHORT POSITIONS at this time due to:
+ Low volatility, lack of momentum
+ Technical indicators do not provide clear signals
+ High risk when trading in the sideways range
- GOOD BUY/SELL POINTS:
+ Long when price tests the range of 0.195-0.198 with increased volume
+ Short when price hits 0.205-0.208 with RSI >70
5. Warning:
- Need to monitor trading volume, if there is a sudden spike a breakout may occur
- The ranges of 0.195 and 0.205 are important resistance/support levels to watch
- The market may experience strong fluctuations if there are impactful news
Investors should wait for clearer market signals or trade with small volumes and tight stop losses during this period.