š $VELODROME /USDT: Technical Analysis Update š
VELODROME/USDT is currently priced at $0.1814, showing a consistent pattern as it tests key levels. Here's a look at the technical setup and trading opportunities:
Support & Resistance Levels:
Support: $0.1800 (psychological level) and $0.1750 (recent low).
Resistance: $0.1850 (immediate resistance) and $0.1900 (critical breakout zone).
Market Insights:
VELODROME is holding above $0.1800, indicating strong buyer interest. As it approaches the $0.1850 resistance, a breakout above this level could trigger a move toward $0.1900 or higher.
Trading Strategy:
Bullish Play: Go long above $0.1850, targeting $0.1900ā$0.1950. Set a stop-loss at $0.1780 to limit risk.
Bearish Play: Consider shorting if the price falls below $0.1800, with targets at $0.1750 or lower.
VELODROME is nearing a potential breakout. Watch the volume and stay ready to act as the price approaches key levels! š„