🚨 $VELVET — THE CRASH WASN’T RANDOM! VELVET suffered a brutal sell-off after an extended parabolic rally triggered heavy profit-taking. With price already massively overextended, sellers stepped in aggressively and leveraged positions began getting flushed, accelerating the downside. Recent market analysis found no confirmed hack, exploit, delisting, or major negative fundamental event behind the crash.
The thin liquidity in VELVET made the move even more violent, while liquidation pressure amplified the dump. This type of cascade has happened before with VELVET when leveraged traders were forced out.
On the 4H chart, price crashed from around $0.63 to a low of $0.1756 before bouncing toward $0.2756.
Now I’m watching $0.30 closely. Reclaiming it could strengthen the recovery, while losing $0.1756 would signal another major breakdown.
VELVET is showing resilience after the capitulation, but confirmation is still needed before calling a full recovery.
Trade #Velvet
$PROM
$BTW
The thin liquidity in VELVET made the move even more violent, while liquidation pressure amplified the dump. This type of cascade has happened before with VELVET when leveraged traders were forced out.
On the 4H chart, price crashed from around $0.63 to a low of $0.1756 before bouncing toward $0.2756.
Now I’m watching $0.30 closely. Reclaiming it could strengthen the recovery, while losing $0.1756 would signal another major breakdown.
VELVET is showing resilience after the capitulation, but confirmation is still needed before calling a full recovery.
Trade #Velvet
$PROM
$BTW
