$VELVET Perp — Strong Move 🥶
VELVET is up 34% today and trading around 0.94 after breaking out from the 0.45–0.55 range.
Key levels:
Resistance: 1.00–1.13
Support: 0.75–0.80
Major support: 0.50–0.55
The move is powerful, but price is now entering a major resistance zone.
I would not chase here. A clean breakout and retest above 1.00 could open the way toward 1.13 and higher.
If 1.00 gets rejected, a pullback toward 0.80 could provide a better entry.
Trade the confirmation, not the candle.
VELVET is up 34% today and trading around 0.94 after breaking out from the 0.45–0.55 range.
Key levels:
Resistance: 1.00–1.13
Support: 0.75–0.80
Major support: 0.50–0.55
The move is powerful, but price is now entering a major resistance zone.
I would not chase here. A clean breakout and retest above 1.00 could open the way toward 1.13 and higher.
If 1.00 gets rejected, a pullback toward 0.80 could provide a better entry.
Trade the confirmation, not the candle.