$VELODROME /USDT Technical Analysis & Trade Signal
Current Price: $0.1675 (-7.10%)
Trend: Bearish
Key Levels to Watch:
Resistance: $0.1750, $0.1840
Support: $0.1669, $0.1600
Indicators & Momentum:
RSI (14): Oversold zone, potential reversal ahead.
MACD: Bearish crossover, signaling downward momentum.
Volume: Declining, suggesting weakening selling pressure.
Trade Setup:
๐ป Short-Term View: Look for a bounce near strong support at $0.1669. If this level holds, a potential reversal could initiate a recovery.
๐ฏ Trade Signal (Long Position):
Entry Zone: $0.1670 - $0.1690
Target 1: $0.1725
Target 2: $0.1765
Target 3: $0.1800
Stop-Loss: $0.1645
๐ Momentum:
If price breaks $0.1750, bullish momentum could drive it to $0.1800+.
A drop below $0.1660 could signal further downside to $0.1600.
๐ก Strategy: Monitor RSI and MACD for confirmation of trend reversal. Adjust stops and targets based on momentum shifts.