Bearish Signals for Velodrome Finance (VELO/USDT): Can Bulls Regain Control?

Velodrome is currently trading at $0.2088 (-15.23%), showing significant bearish pressure.

Key Insights:

Support Level: $0.2000.

Resistance Targets:

$0.2300 (short-term), $0.2500 (mid-term).

Technical Indicators:

RSI indicates oversold conditions, while MACD shows increasing bearish momentum.

Strategy:

Monitor for a bounce at $0.2000. If bulls reclaim $0.2150, momentum could shift toward $0.2300. Otherwise, further downside is likely.