Analysis and Signal for $VELODROME /USDT on Binance
Analysis:
Current Price: $0.2030 (+8.09%)
24h Range: $0.1819 - $0.2313
The price has shown a strong recovery from $0.1815, testing a high of $0.2313.
The retracement to $0.1973 indicates healthy consolidation, with current support near $0.1970 and resistance at $0.2310.
Trading Signal:
Entry Point: $0.2030
Target (TP1): $0.2200
Target (TP2): $0.2300
Stop Loss (SL): $0.1950
Strategy:
Consider securing partial profits at $0.2200 (TP1) and holding the rest toward $0.2300 (TP2).
If price breaks above $0.2310 with strong volume, the next resistance to watch is $0.2400.
Disclaimer: Always conduct your own research before trading and manage your risks appropriately.