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$VELODROME ,💯💯👌
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Technical Analysis for VELODROME/USDT on Binance 🎯
Current Price: $0.1117 (Approx. Rs. 31.21)
24H Change: -15.44%
The VELODROME token has experienced notable volatility over the past 24 hours, presenting opportunities for traders. Here’s a technical analysis with key insights and potential targets:
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Key Indicators
1. Moving Averages (MA):
MA(5): 3,523,472.6 (Bearish trend for short-term momentum).
MA(10): 3,341,254.1 (Suggests selling pressure).
2. Support & Resistance:
Resistance Level 1: $0.1270
Resistance Level 2: $0.1354
Support Level: $0.1102
3. MACD (Moving Average Convergence Divergence):
Shows bearish momentum, but signs of divergence hint at a potential reversal.
4. BOLL (Bollinger Bands):
Price is near the lower band, indicating oversold conditions and possible bounce-back.
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Trading Targets 🎯
1. Target 1 (Short-Term):
$0.1200
If the price bounces from the current support at $0.1114, a short-term rally could aim for this level, supported by day traders.
2. Target 2 (Mid-Term):
$0.1270
Breaking past $0.1200 with sustained volume may push the price toward the first major resistance zone.
3. Target 3 (Long-Term):
$0.1354
If bullish momentum dominates, this level aligns with the upper resistance on the chart, signaling strong recovery potential.
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Recommendations 📈
For Risk-Takers: Enter at the current price with a stop-loss around $0.1100 and aim for short-term targets.
For Conservative Traders: Wait for confirmation above $0.1200 to ride the trend toward higher targets.
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