$VELODROME /USDT Trading Signal: Consolidation Near Support Levels 🚦
Signal Type: Long
Entry Range: $0.1335 - $0.1350
Take-Profit Targets:
TP1: $0.1375 (Initial)
TP2: $0.1399 (Extended)
TP3: $0.1450 (Aggressive)
Stop-Loss: $0.1310
Technical Analysis
The $VELODROME /USDT pair is stabilizing near its key support level of $0.1316, showing potential for an upward rebound.
Key Levels to Watch:
Resistance Zones:
Immediate: $0.1375
Major: $0.1450
Support Levels:
Initial: $0.1335
Major: $0.1316
Indicators Overview:
1. Moving Averages: Price is attempting to reclaim the 7-period MA, indicating early signs of bullish activity.
2. MACD: Momentum is turning positive, suggesting potential recovery.
3. RSI: Near neutral, providing sufficient room for an upward move.
Market Outlook
A breakout above $0.1375 could trigger further bullish momentum, targeting $0.1450. Failure to sustain above $0.1335 may result in further downside to test $0.1310.
Trade Management Tips
Partial Profits: Secure partial gains near TP1 and adjust stop-loss to breakeven for risk mitigation.
Risk-Reward Discipline: Maintain a consistent 1:2 risk-reward ratio.