VELODROME

Technical Observations:

Current Price: $0.2555

The price is struggling below the EMA Cross (5, 12) and near the LSMA (5, 0) line, indicating short-term bearish pressure.

Support and Resistance:

Immediate Support: $0.2530 (key horizontal level).

Immediate Resistance: $0.2573 (upper band).

Indicators:

MACD: The lines are flat, and momentum is neutral, confirming indecision with no strong bullish or bearish signals.

RSI (3, SMA 3): 44.99, still below 50, showing weak buying strength and no overbought/oversold conditions.

Trendlines:

There is an ascending trendline visible but broken slightly, signaling caution.

Outlook:

Bearish Scenario:

If price closes below $0.2530, further downside toward $0.2400 is likely.

Bullish Scenario:

A break and close above $0.2573 can push price toward $0.2650 and beyond.

Suggestion:

Watch for a breakout or breakdown around the trendline and key levels.

RSI crossing above 50 with volume would be a bullish confirmation.