VELVET SLIPS THROUGH KEY SUPPORT 📉⚠️
$VELVET breached the $0.11393 resistance block early in the session, flipping the zone into supply and triggering a cascade of sell orders. Volume spiked to $12.64 M while the momentum histogram dove into deep negative territory, confirming that institutional short pressure is overwhelming the lingering bullish influx in the alt‑coin arena 📉. The price retreated below the $0.10635 mid‑range and now sits just above the $0.09869 support line, eroding the last defensive order block and suggesting the move is more than a routine pullback ⚠️.
Given the proximity to the $0.09869 floor, each tick below could unlock deeper liquidity pockets that have been accumulating since the prior rally. The current structure lacks a higher‑time bullish swing, implying the decline may be a structural breakdown rather than a healthy correction. If buyers can stabilize near the support, the $0.10010 price could test the $0.10635 median again, but a decisive break would likely open the path toward the next low around $0.09400 🔻
Levels to monitor:
Watching support around $0.09870
Structure suggests resistance near $0.10635
Mid range area: $0.10010
DYOR
Follow for Updates
#VELVET #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare
$VELVET breached the $0.11393 resistance block early in the session, flipping the zone into supply and triggering a cascade of sell orders. Volume spiked to $12.64 M while the momentum histogram dove into deep negative territory, confirming that institutional short pressure is overwhelming the lingering bullish influx in the alt‑coin arena 📉. The price retreated below the $0.10635 mid‑range and now sits just above the $0.09869 support line, eroding the last defensive order block and suggesting the move is more than a routine pullback ⚠️.
Given the proximity to the $0.09869 floor, each tick below could unlock deeper liquidity pockets that have been accumulating since the prior rally. The current structure lacks a higher‑time bullish swing, implying the decline may be a structural breakdown rather than a healthy correction. If buyers can stabilize near the support, the $0.10010 price could test the $0.10635 median again, but a decisive break would likely open the path toward the next low around $0.09400 🔻
Levels to monitor:
Watching support around $0.09870
Structure suggests resistance near $0.10635
Mid range area: $0.10010
DYOR
Follow for Updates
#VELVET #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare