$VELODROME /USDT Trading Signal - Breakout Opportunity
Current Price: $0.1825 (+3.11%)
24h High: $0.1848
24h Low: $0.1731
24h Volume: 52.77M
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Market Overview
$VELODROME has shown a strong upward breakout from consolidation, testing the key resistance level of $0.1848. With increased volume, the next move is crucial for traders.
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Trading Plan (1H Timeframe)
Bullish Scenario:
Entry Zone: $0.1815 - $0.1825
Targets:
T1: $0.1845
T2: $0.1865
T3: $0.1890
Stop Loss: $0.1780
Bearish Scenario:
Entry Zone: Below $0.1790
Targets:
T1: $0.1760
T2: $0.1735
Stop Loss: $0.1825
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Technical Insights
MACD: Positive divergence, indicating bullish momentum.
RSI: Approaching overbought levels, suggesting possible short-term pullback.
Support Levels: $0.1780 and $0.1735.
Resistance Levels: $0.1848 and $0.1890.
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Strategy Recommendations
Focus on the breakout level of $0.1848 for continuation confirmation.
Manage risk with tight stop losses due to increased volatility.
Secure partial profits as the price approaches resistance targets.
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