$VELODROME $BTC
Based on the image, the chart for VELODROME/USDT is displayed with technical indicators like EMA, MACD, and StochRSI. Here's an analysis to identify potential targets:
1. Immediate Resistance (Target 1):
The 24-hour high of 0.1954 is a critical resistance level. If the price sustains above this, the next significant resistance would likely be around 0.2243, a previous key level visible on the chart.
2. Next Resistance (Target 2):
The 0.3121 level is a notable historical resistance on the chart. This could be the second target if the price gains enough momentum to break above 0.2243.
Observations:
Trend: The price is currently consolidating after a downtrend, with potential for recovery.
MACD: Shows minimal bullish momentum (DIF > 0).
StochRSI: Currently around the midline, indicating neutral momentum but close to an oversold recovery.
Strategy:
If price breaks above 0.1954, aim for 0.2243 (Target 1).
If price sustains above 0.2243, aim for 0.3121 (Target 2).
Stop-loss: Set below 0.18 to manage risk.
Let me know if you want further clarification!