VELVET PLUNGES THROUGH CRITICAL SUPPORT 📉⚠️
A swift breach of the $0.07602 order block sent $VELVET into a free‑fall, erasing the last pocket of sell‑side liquidity and accelerating bearish momentum. The 24‑hour volume of $17.84 M collapsed alongside a 26.68 % price drop, signaling that macro‑level accumulation funds have exited the market. With the high of $0.07640 now a distant memory, the token is carving a steep trough toward the $0.04583 support zone 📉.
The $0.04583 support cluster is now under pressure, yet price action shows a tentative bounce off the $0.04560 low, hinting at a possible liquidity grab. If buying interest fails to hold above $0.04800, the structure suggests a continuation of the downtrend toward the next major demand zone around $0.04100. Conversely, a decisive hold above $0.05000 could re‑establish a mid‑range equilibrium near $0.06100, providing a platform for a modest rebound 📈.
The broader altcoin sector is witnessing a rotation into higher‑yield assets, draining capital from risk‑on positions like $VELVET . Order‑block analysis confirms that the recent sell‑side pressure exhausted the $0.07000‑$0.07400 liquidity pool, leaving the market vulnerable to further downside if the $0.04500 floor breaks. Traders should monitor the evolving order flow for any sign of a reversal pivot 🌐
Levels to monitor:
Watching support around $0.04500
Structure suggests resistance near $0.05000
Mid range area: $0.06100
DYOR
Follow for Updates
#VELVET #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare
A swift breach of the $0.07602 order block sent $VELVET into a free‑fall, erasing the last pocket of sell‑side liquidity and accelerating bearish momentum. The 24‑hour volume of $17.84 M collapsed alongside a 26.68 % price drop, signaling that macro‑level accumulation funds have exited the market. With the high of $0.07640 now a distant memory, the token is carving a steep trough toward the $0.04583 support zone 📉.
The $0.04583 support cluster is now under pressure, yet price action shows a tentative bounce off the $0.04560 low, hinting at a possible liquidity grab. If buying interest fails to hold above $0.04800, the structure suggests a continuation of the downtrend toward the next major demand zone around $0.04100. Conversely, a decisive hold above $0.05000 could re‑establish a mid‑range equilibrium near $0.06100, providing a platform for a modest rebound 📈.
The broader altcoin sector is witnessing a rotation into higher‑yield assets, draining capital from risk‑on positions like $VELVET . Order‑block analysis confirms that the recent sell‑side pressure exhausted the $0.07000‑$0.07400 liquidity pool, leaving the market vulnerable to further downside if the $0.04500 floor breaks. Traders should monitor the evolving order flow for any sign of a reversal pivot 🌐
Levels to monitor:
Watching support around $0.04500
Structure suggests resistance near $0.05000
Mid range area: $0.06100
DYOR
Follow for Updates
#VELVET #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare