๐จ $VELVET /USDT โ THE PULLBACK IS GETTING SERIOUS ๐๐ฅ
VELVET is currently around $0.6928, down 0.87% today. After pushing as high as $0.7395 on the 15M chart, sellers have taken control and dragged price down toward $0.6861.
Now the real question: Is this a healthy pullbackโฆ or the start of a deeper correction?
๐ MARKET SNAPSHOT
๐ฐ Price: $0.6928
๐ Mark Price: $0.6925
๐ 24H High: $0.7500
๐ 24H Low: $0.6369
๐ฅ 24H Volume: 82.81M VELVET
๐ต 24H Volume: $57.98M USDT
๐ BULLISH SIDE
The chart has already bounced slightly from $0.6861, so buyers are still trying to defend this area.
If $0.6860โ$0.6920 holds and price starts reclaiming:
๐ฏ $0.7069 โ first resistance
๐ฏ $0.7187 โ important recovery zone
๐ฏ $0.7304 โ major resistance
๐ $0.7395 โ recent chart high
๐ฅ $0.7500 โ 24H high
A strong break above $0.7500 with volume could completely change the short-term mood.
๐ป BEARISH SIDE
But don't ignore what the candles are saying.
After reaching $0.7395, price created a clear series of lower moves and eventually printed $0.6861.
If $0.6860 breaks decisively:
โ ๏ธ $0.6834 โ immediate downside area
โ ๏ธ Below that, the market could start testing the $0.6700โ$0.6600 zone
๐จ A deeper move could bring the $0.6369 24H low back into focus.
๐ BIGGER PICTURE
Today: -1.41%
7 Days: +46.66% ๐ฅ
30 Days: +22.04%
90 Days: +511.04% ๐
180 Days: +771.56%
1 Year: +985.38% ๐คฏ
That long-term performance is impressive, but it also explains why profit-taking can hit hard after huge rallies.
๐ฅ MY TAKE:
Right now, $0.6860 is the line Iโm watching closely.
Above it โ buyers still have a chance to rebuild momentum toward $0.7069 โ $0.7187 โ $0.7304+.
Below it โ the chart becomes much more dangerous, with $0.6834 and then lower support zones coming into play.
The safest move isn't guessing.
Let VELVET show its hand. ๐
One strong green candle with volume can flip the setup bullish.
One clean breakdown can send the bears running.
VELVET is currently around $0.6928, down 0.87% today. After pushing as high as $0.7395 on the 15M chart, sellers have taken control and dragged price down toward $0.6861.
Now the real question: Is this a healthy pullbackโฆ or the start of a deeper correction?
๐ MARKET SNAPSHOT
๐ฐ Price: $0.6928
๐ Mark Price: $0.6925
๐ 24H High: $0.7500
๐ 24H Low: $0.6369
๐ฅ 24H Volume: 82.81M VELVET
๐ต 24H Volume: $57.98M USDT
๐ BULLISH SIDE
The chart has already bounced slightly from $0.6861, so buyers are still trying to defend this area.
If $0.6860โ$0.6920 holds and price starts reclaiming:
๐ฏ $0.7069 โ first resistance
๐ฏ $0.7187 โ important recovery zone
๐ฏ $0.7304 โ major resistance
๐ $0.7395 โ recent chart high
๐ฅ $0.7500 โ 24H high
A strong break above $0.7500 with volume could completely change the short-term mood.
๐ป BEARISH SIDE
But don't ignore what the candles are saying.
After reaching $0.7395, price created a clear series of lower moves and eventually printed $0.6861.
If $0.6860 breaks decisively:
โ ๏ธ $0.6834 โ immediate downside area
โ ๏ธ Below that, the market could start testing the $0.6700โ$0.6600 zone
๐จ A deeper move could bring the $0.6369 24H low back into focus.
๐ BIGGER PICTURE
Today: -1.41%
7 Days: +46.66% ๐ฅ
30 Days: +22.04%
90 Days: +511.04% ๐
180 Days: +771.56%
1 Year: +985.38% ๐คฏ
That long-term performance is impressive, but it also explains why profit-taking can hit hard after huge rallies.
๐ฅ MY TAKE:
Right now, $0.6860 is the line Iโm watching closely.
Above it โ buyers still have a chance to rebuild momentum toward $0.7069 โ $0.7187 โ $0.7304+.
Below it โ the chart becomes much more dangerous, with $0.6834 and then lower support zones coming into play.
The safest move isn't guessing.
Let VELVET show its hand. ๐
One strong green candle with volume can flip the setup bullish.
One clean breakdown can send the bears running.