$VELODROME /USDT Trading Signal – Consolidation at Support Levels, Breakout Imminent?
Current Price: $0.1804
24h Change: -5.15%
Entry Zone:
$0.1780–$0.1810
Targets:
1. $0.1840 – Immediate resistance
2. $0.1875 – Key breakout level
3. $0.1910 – Extended target
Stop Loss:
$0.1760
Market Observations:
$VELODROME /USDT has declined by over 5% in the past 24 hours, finding support at $0.1783. Current consolidation near $0.1804 suggests potential for a rebound, with buyers likely to step in around this support zone. A breakout above $0.1840 could signal a recovery toward the extended target of $0.1910.
Volume remains a critical factor, and traders should watch for increased activity near the support levels.
Trading Strategy:
Short-term traders: Monitor for a breakout above $0.1840 and secure profits at each target.
Mid-term traders: Hold positions for $0.1910 while adjusting stop losses to manage risks.
Key Support and Resistance Levels:
Support: $0.1780
Resistance: $0.1840