VELVET PLUNGES THROUGH KEY SUPPORT ZONE đâ ïž
An aggressive 18.7% slide has ripped $VELVET through the $0.08461 resistance cluster, snapping the shortâterm order block that held since early June đ. The 24âhour volume surged past $19âŻM while buying pressure evaporated, indicating that the rally was largely momentumâdriven rather than backed by fresh accumulation. Concurrently, the 4âhour EMA series crossed below the 20âperiod line, confirming a shift into bearish momentum and exposing the asset to a cascade of stopâloss orders â ïž.
Price is now testing the $0.06833 support band, a level that coincided with the prior macro accumulation zone and the lower edge of the recent order block. The broader altcoin sector is experiencing a riskâoff rotation, pulling liquidity away from speculative tokens and reinforcing the downward bias on $VELVET âŹ. If $VELVET holds, the midârange $0.07651 could act as a pivot, but a breach would likely open the path toward the $0.0620 floor observed in the last two weeks đœ.
Levels to monitor:
Watching support around $0.06833
Structure suggests resistance near $0.07651
Mid range area: $0.08461
DYOR
Follow for Updates
#VELVET #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare
An aggressive 18.7% slide has ripped $VELVET through the $0.08461 resistance cluster, snapping the shortâterm order block that held since early June đ. The 24âhour volume surged past $19âŻM while buying pressure evaporated, indicating that the rally was largely momentumâdriven rather than backed by fresh accumulation. Concurrently, the 4âhour EMA series crossed below the 20âperiod line, confirming a shift into bearish momentum and exposing the asset to a cascade of stopâloss orders â ïž.
Price is now testing the $0.06833 support band, a level that coincided with the prior macro accumulation zone and the lower edge of the recent order block. The broader altcoin sector is experiencing a riskâoff rotation, pulling liquidity away from speculative tokens and reinforcing the downward bias on $VELVET âŹ. If $VELVET holds, the midârange $0.07651 could act as a pivot, but a breach would likely open the path toward the $0.0620 floor observed in the last two weeks đœ.
Levels to monitor:
Watching support around $0.06833
Structure suggests resistance near $0.07651
Mid range area: $0.08461
DYOR
Follow for Updates
#VELVET #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare