$VELVET IS TESTING A KEY SUPPORT ZONE WITH SELLING PRESSURE SLOWING đ„
Entry: 0.4520 â 0.4650 đ„
Target: 0.5000 đ
Stop Loss: 0.4500 â ïž
Selling pressure is clearly decelerating as price holds above 0.4500. The zone has acted as a magnet for buyers twice in the past week, and each test has been met with a tighter range. A clean reclaim above 0.5000 would signal a shift in structure and likely attract momentum traders.
The risk-to-reward on a bounce from here is roughly 1:4 if you target the first take-profit. Are you watching this level for a long entry?
Not financial advice. Always manage your risk.
#VELVET #SupportZone #ReliefBounce #Crypto
đ„
Entry: 0.4520 â 0.4650 đ„
Target: 0.5000 đ
Stop Loss: 0.4500 â ïž
Selling pressure is clearly decelerating as price holds above 0.4500. The zone has acted as a magnet for buyers twice in the past week, and each test has been met with a tighter range. A clean reclaim above 0.5000 would signal a shift in structure and likely attract momentum traders.
The risk-to-reward on a bounce from here is roughly 1:4 if you target the first take-profit. Are you watching this level for a long entry?
Not financial advice. Always manage your risk.
#VELVET #SupportZone #ReliefBounce #Crypto
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