$VELODROME /USDT Trading Signal - Testing Critical Support

Current Price: $0.1548

24H Range: $0.1506 - $0.1806

Analysis:

VELODROME is experiencing a significant downtrend, breaking below EMA(7) $0.1578 and EMA(25) $0.1650, with the price also under EMA(99) $0.1747. The asset has recently tested $0.1506, its intraday low, indicating oversold conditions.

Potential Setup:

Entry Zone: $0.1520 - $0.1560

Targets:

Target 1: $0.1600

Target 2: $0.1650

Target 3: $0.1700

Stop Loss: $0.1480

Observation:

The price is attempting to recover after touching key support at $0.1506. A breakout above $0.1600 may signal a short-term reversal, targeting EMA levels for resistance.

Actionable Advice:

Monitor price movement near $0.1500 for potential buy opportunities.

Scale profits as the price approaches EMA levels, while maintaining stop-loss discipline.

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