$VELVET
#Velvet token just took a massive hit, dropping over 80% on the weekly chart from around 0.60 down to 0.13.
Price is sitting right at a major floor around 0.10 to 0.13, which was an old buying area in the past. High trading volume shows massive selling and wiped-out positions, but selling pressure could start slowing down here.
Key levels:
#support : 0.10
Bounce Targets: 0.18 to 0.20
Major Level: 0.30
If 0.10 holds strong, price could easily trigger a quick relief bounce back up toward 0.18. However, breaking below 0.10 means more downside ahead. Catching drops like this is high risk, so keep risk low.
Are you looking to buy the dip or stay away for now?
#Velvet token just took a massive hit, dropping over 80% on the weekly chart from around 0.60 down to 0.13.
Price is sitting right at a major floor around 0.10 to 0.13, which was an old buying area in the past. High trading volume shows massive selling and wiped-out positions, but selling pressure could start slowing down here.
Key levels:
#support : 0.10
Bounce Targets: 0.18 to 0.20
Major Level: 0.30
If 0.10 holds strong, price could easily trigger a quick relief bounce back up toward 0.18. However, breaking below 0.10 means more downside ahead. Catching drops like this is high risk, so keep risk low.
Are you looking to buy the dip or stay away for now?