🟣 VELVET Update
VELVET is in a high-volatility phase. It recently pushed above $1, but has now pulled back sharply, with current pricing around $0.88–$0.90 and a 24h high near $1.21.
Support: $0.80–$0.85
Major support: $0.70
Resistance: $1.00 → $1.21
🚀 Bullish: reclaim $1.00 and hold → $1.20, then potentially $1.50+
⚠️ Bearish: lose $0.80 → deeper correction toward $0.70
Bias: 🟢 Bullish structure, but very overheated after the massive recent rally.
Best approach: Don't chase a vertical candle. A clean reclaim of $1 or a controlled pullback into support would offer a better risk/reward setup.$VELVET
VELVET is in a high-volatility phase. It recently pushed above $1, but has now pulled back sharply, with current pricing around $0.88–$0.90 and a 24h high near $1.21.
Support: $0.80–$0.85
Major support: $0.70
Resistance: $1.00 → $1.21
🚀 Bullish: reclaim $1.00 and hold → $1.20, then potentially $1.50+
⚠️ Bearish: lose $0.80 → deeper correction toward $0.70
Bias: 🟢 Bullish structure, but very overheated after the massive recent rally.
Best approach: Don't chase a vertical candle. A clean reclaim of $1 or a controlled pullback into support would offer a better risk/reward setup.$VELVET