Technical Analysis for $VELODROME/USDT

Based on the current price action and market data, VELODROME shows strong bullish momentum but also exhibits high volatility. Here's a breakdown:

Key Levels

Support Levels: $0.2800 | $0.2100

Resistance Levels: $0.3500 | $0.3880

Current Price: $0.33

Momentum: Strong bullish momentum, supported by high volume and price surge.

Trade Signals

šŸ”µ Entry Zone: $0.3100 - $0.3300

Look for a pullback into this range for a safer entry.

Target šŸŽÆ Levels

1. Target 1 (Short-term): $0.3500

A minor resistance level; take partial profit here.

2. Target 2 (Mid-term): $0.3750

Momentum continuation target based on the recent high.

3. Target 3 (Extended): $0.4100

If bullish momentum persists, this level is achievable.

Trade Momentum

Bullish:

Strong buying pressure reflected in the volume.

If the price sustains above $0.3200, expect a continuation of the uptrend.

Bearish Risks:

A break below $0.2800 may signal a reversal.

Risk Management

Stop Loss: $0.2750 (below key support).

Risk-to-Reward Ratio: Maintain a ratio of 1:2 or better for effective trade management.

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