$VELODROME /USDT Analysis: Market Under Pressure, Eyes on Key Support
The VELODROME/USDT pair is trading at $0.1885, down by 6.91%, showing a significant bearish trend after failing to hold above $0.2029 (24h high).
The 15-minute chart highlights strong sell-offs, with the price nearing the lower Bollinger Band at $0.1880—indicating oversold conditions and potential short-term support. Traders should monitor closely for a bounce from this level or a break further down to test $0.1823 (24h low).
Volume spikes suggest strong bearish momentum, while the MACD remains negative, signaling continued selling pressure. If buyers reclaim control near support, we may see a recovery toward the $0.1954 resistance.
Maintain tight stops, and look for confirmation signals before re-entering to ensure a profitable trade in this volatile setup.
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