$VELODROME /USDT Trading Analysis – Key Levels to Watch

Current Price: $0.1755 (-2.99%)

24H High: $0.1821

24H Low: $0.1731

24H Volume: 52.69M

🔥 Short-Term Price Action

Velodrome ($VELODROME

) is exhibiting volatility, reflecting its trading volume of 52.69M. Despite the recent dip, the price remains above its critical support levels, signaling potential for short-term recovery.

📈 Key Targets for $VELODROME

1️⃣ Target 1: $0.1800 – A break above this level could signal initial bullish momentum.

2️⃣ Target 2: $0.1850 – This is a critical resistance level and could attract more buyers.

3️⃣ Target 3: $0.1950 – If volume increases, this level may serve as the next upward goal.

Support Zone: $0.1669 – A dip below this could indicate further bearish action.

🧐 Technical Insights

Trend Observation: Price remains range-bound between $0.1731 and $0.1834.

Volume Surge: A spike in trading activity around these levels could indicate the next move.

Indicators: Look for MACD crossovers and RSI levels for confirmation of bullish divergence.

🚀 Trading Strategy

Entry Point: Accumulate near $0.1730 for a potential breakout.

Stop Loss: $0.1650 – Tighten to protect against sudden reversals.

Take Profit: Consider partial profits at $0.1800 and $0.1850, and hold for $0.1950.

⚡ Final Thoughts

$VELO is in a consolidation phase, with clear resistance and support levels. Traders should watch for volume and price action near $0.1800 for signs of a breakout. With disciplined risk management, $VELO presents a short-term opportunity for gains.

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