📊 $VELODROME /USDT Technical Analysis - Bearish Momentum Under Watch! 📊

Current Price: $0.1899 (-6.77%)

24h High: $0.2038

24h Low: $0.1869

$VELODROME /USDT is currently experiencing a -6.77% drop in the last 24 hours, now trading at $0.1899. After reaching a 24-hour high of $0.2038, the price has retraced and is testing support at $0.1869.

Key Levels to Watch:

Support Levels:

0.1869

0.1840

0.1599

Resistance Levels:

0.2081

0.2289

0.2322

Volume Analysis:

24h VELODROME Volume: 79.94M

24h USDT Volume: 15.44M

The trading volume shows strong activity in VELODROME, but the market is currently under pressure, as reflected in the price drop.

Depth Analysis:

Bid Depth: Strong support near 0.1869 and 0.1840, with further support at 0.1599 in case of a deeper pullback.

Sell Depth: Resistance is found at 0.2081 and 0.2289, which could stall any recovery efforts.

Short-Term Outlook:

Bearish Trend: The -6.77% decline suggests continued downward pressure. If support at 0.1869 holds, there could be potential for stabilization, but failure to maintain this level could push the price further down to 0.1599.

Potential Rebound: A rise above 0.2081 would be a positive signal, breaking the bearish momentum and targeting the next resistance levels around 0.2289 and 0.2322.

Conclusion: VELODROME/USDT is currently in a bearish phase, but key support levels at 0.1869 and 0.1840 will be crucial for potential stabilization. Watch for signs of reversal or further declines if these levels break.

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