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$VELODROME Technical Analysis: VELODROME/USDT 🚀
Current Price: 0.1668 USDT
24h High: 0.1840 USDT
24h Low: 0.1645 USDT
After analyzing VELODROME's recent performance, here’s a quick breakdown of key levels and potential targets.
🔍 Key Technical Insights:
The price of VELODROME has recently dipped by 6.61%, reflecting a potential opportunity for a rebound.
The 24h trading volume for VELODROME stands at a solid 47.70M, indicating a healthy market activity.
A critical support level is seen at 0.1645 USDT, while 0.1840 USDT acts as resistance, suggesting a potential range-bound movement.
📈 Target 1: 0.1700 USDT
This level could act as an initial resistance for a potential upward move, where we could see buying pressure emerge.
📈 Target 2: 0.1750 USDT
If VELODROME breaks past 0.1700 USDT, we might see a stronger rally towards the 0.1750 level, which aligns with previous price action.
📈 Target 3: 0.1800 USDT
A breakout above 0.1750 could lead to further upward momentum, with the next major target at 0.1800 USDT, where significant selling pressure may appear.
🔔 Trend Indicators:
Moving Averages (MA) show short-term support at 0.1668 and resistance near 0.1680.
Volume: Watch for an increase in volume as it could confirm a breakout or reversal.
📉 Risk to Watch: If the price breaks below 0.1645 USDT, further downside risk towards 0.1600 USDT might occur.
👨💻 Conclusion: For those watching VELODROME, the market is showing some indecision in the short term. Keep an eye on price action around the critical levels to make informed decisions.
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