$VELVET just got absolutely deleted. 💀

$0.2003 | -70.09% in 24H

24H high: $0.9126
24H low: $0.1756
USDT volume: $225.6M

And yeah... this isn’t a normal pullback.

The 4H structure basically snapped in one move. Price was holding around the $0.60-$0.65 area, then liquidity vanished and it fell straight into the $0.17-$0.20 zone.

That changes the whole trade.

For $VELVET bulls, first job is simply surviving above $0.175-$0.18. If that base holds, a relief push toward $0.24-$0.28 is possible.

But if $0.175 breaks again?

Then this chart gets ugly very fast.

One more thing... order book is still ask-heavy around 58%.

So no, I’m not calling this “cheap” just because it’s down 70%.

After a move like this, cheap can stay cheap... then somehow get cheaper. 👀📉

Will $VELVET bounce back? or this is already done and dusted?