DISGUST OR TECHNICAL COMPRESSION IN $VELVET ? WHAT THE DAILY CHART REVEALS ๐ด๐
While many panic at seeing $VELVET retreat by -16% to $0.0689, the daily microstructure shows a direct retest toward the block where the last impulse originated.
1D reading breakdown:
Key Support: Price is seeking support right around the 7-day EMA ($0.0697), maintaining a structure significantly above the historical consolidation zone at $0.0456.
MACD evolution: Despite the dayโs red candle, the MACD keeps its histogram in positive territory (0.01212) and the DIF/DEA lines remain on a bullish crossover trajectory from the bottom.
Retail sells at market in frustration after failing to see the direct continuation toward the 25 EMA ($0.086), handing positions over to the strong hands that accumulate with Limit orders in this discount zone.
Once the liquidation sweep of leveraged positions is complete, liquidity above $0.088 will act again as a magnet.
Are they accumulating at support, or waiting for confirmation above? ๐๐
SEND IT. HIGHER. $VELVET #BinanceSquare #Crypto #VELVET #Trading
While many panic at seeing $VELVET retreat by -16% to $0.0689, the daily microstructure shows a direct retest toward the block where the last impulse originated.
1D reading breakdown:
Key Support: Price is seeking support right around the 7-day EMA ($0.0697), maintaining a structure significantly above the historical consolidation zone at $0.0456.
MACD evolution: Despite the dayโs red candle, the MACD keeps its histogram in positive territory (0.01212) and the DIF/DEA lines remain on a bullish crossover trajectory from the bottom.
Retail sells at market in frustration after failing to see the direct continuation toward the 25 EMA ($0.086), handing positions over to the strong hands that accumulate with Limit orders in this discount zone.
Once the liquidation sweep of leveraged positions is complete, liquidity above $0.088 will act again as a magnet.
Are they accumulating at support, or waiting for confirmation above? ๐๐
SEND IT. HIGHER. $VELVET #BinanceSquare #Crypto #VELVET #Trading
