$VELVET has spent the last few candles consolidating after the sharp rejection from 0.09569. Price is now hovering around 0.0767, with the 25-period average near 0.0765 acting as an important short-term reference.
A move back above 0.0812 would put the recent range high back in play. On the downside, 0.0730 is the level I’d watch closely losing it could bring deeper cooling after the earlier spike.
A move back above 0.0812 would put the recent range high back in play. On the downside, 0.0730 is the level I’d watch closely losing it could bring deeper cooling after the earlier spike.
