Alpha Dolphin

technical analysis and trade signal for $VELODROME /USDT:🔥🔥🔥🚀🚀🚀
{spot}(VELODROMEUSDT)

Technical Analysis:

Current Price: $0.24

Support Levels: $0.2360 (recent low), $0.2300 (secondary support)

Resistance Levels: $0.2596 (recent high), $0.2650 (next resistance)

Indicators:

RSI (Relative Strength Index): RSI indicates a neutral momentum, fluctuating around 45-50. It’s not overbought or oversold, suggesting that price could move either way based on market sentiment.

MACD (Moving Average Convergence Divergence): MACD is showing a slight bullish crossover, signaling a potential uptrend if momentum builds.

Volume: Trading volume remains stable with a slight increase in VELODROME trades, indicating moderate interest and potential for movement.

Trade Signal:

Entry Point: Consider entering around $0.2400, as the price is consolidating near this level.

Target Levels (T1, T2, T3):

1. T1: $0.2490 – This is a minor resistance level where the price may see some pullback.

2. T2: $0.2596 – Recent high; strong resistance area where price could stall.

3. T3: $0.2650 – Next key resistance zone. If the price breaks above, there could be further upside.

Stop Loss: Place a stop loss just below $0.2300, near recent support, to limit losses if the price moves against the trade.

Trade Momentum:

The momentum is currently neutral, with potential for a bullish breakout above $0.2450. If VELODROME maintains volume and crosses above the resistance at $0.2490, the upward movement is likely to continue toward the next targets. However, if price breaks below $0.2360, the trend could shift bearish, and it may be prudent to exit or reassess.

Recommendation:

Buy at $0.2400 with targets at $0.2490, $0.2596, and $0.2650.

Stop Loss at $0.2300.

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