$VELODROME
$VELODROME /USDT Analysis and Prediction
Current Price: $0.1965
EMA Trend: Price is trading below the EMA(7) and EMA(25), showing bearish momentum.
🔑Key Observations:
1. Support Zone: Immediate support at $0.1950. A break below this could lead to further downside.
2. Resistance Zone: $0.2037 (EMA25) and $0.2179 are key resistance levels to watch for any bullish reversal.
3. Volume: Slight decline, signaling reduced buying interest at the moment.
♂️Strategy:
Bullish Play (Reversal Expected):
🌟🌟Entry: $0.1980 - $0.2020 (Upon signs of a bounce above $0.1980).
🎯Targets:
🎯Target 1: $0.2050
🎯Target 2: $0.2100
🎯Target 3: $0.2170
🛑💫🛑Stop Loss: $0.1920
Bearish Play (Continuation Downtrend):
Entry: Below $0.1950 (if price breaks support).
💫💫💫Targets:
Target 1: $0.1925
Target 2: $0.1890
🛑🛑Stop Loss: $0.1980
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🛑Final Note:
Monitor for volume confirmation and ensure risk management with appropriate stop-loss orders. Do not overleverage, and wait for a decisive breakout or bounce before taking any trades.