🚨$VELVET /USDT the compression after the spike is getting interesting.
VELVET has recovered from the sharp post-pump correction and is now trading around $0.07342 on the 4H chart. The important part is that price has managed to hold above the $0.070 area despite several attempts to push lower. That suggests buyers are still defending the current structure.
The larger move remains clearly bullish, but the chart is no longer in the explosive phase seen around October 3. After the rejection from the $0.09–$0.095 region, price entered a consolidation range between roughly $0.067 and $0.077. Volume also exploded during the initial breakout and has since cooled significantly. That is not automatically bearish it can indicate the market is absorbing supply before the next directional move. Right now, $0.076–$0.078 is the key resistance zone. A convincing 4H close above that area, especially with increasing volume, could reopen the path toward $0.082–$0.085, followed by the previous spike zone near $0.09. On the downside, losing $0.070 would weaken the structure and expose $0.067, with deeper support around $0.060–$0.062.
The setup is simple:
VELVET is compressing after a major expansion. The next high volume breakout could decide whether this becomes another continuation leg or simply a prolonged consolidation. I would watch the $0.078 breakout and $0.070 breakdown more closely than the noise inside the range.
Are we keeping an eye on $BR & $CYS ?👀
#velvetusdt #Velvet #br #Cys
VELVET has recovered from the sharp post-pump correction and is now trading around $0.07342 on the 4H chart. The important part is that price has managed to hold above the $0.070 area despite several attempts to push lower. That suggests buyers are still defending the current structure.
The larger move remains clearly bullish, but the chart is no longer in the explosive phase seen around October 3. After the rejection from the $0.09–$0.095 region, price entered a consolidation range between roughly $0.067 and $0.077. Volume also exploded during the initial breakout and has since cooled significantly. That is not automatically bearish it can indicate the market is absorbing supply before the next directional move. Right now, $0.076–$0.078 is the key resistance zone. A convincing 4H close above that area, especially with increasing volume, could reopen the path toward $0.082–$0.085, followed by the previous spike zone near $0.09. On the downside, losing $0.070 would weaken the structure and expose $0.067, with deeper support around $0.060–$0.062.
The setup is simple:
VELVET is compressing after a major expansion. The next high volume breakout could decide whether this becomes another continuation leg or simply a prolonged consolidation. I would watch the $0.078 breakout and $0.070 breakdown more closely than the noise inside the range.
Are we keeping an eye on $BR & $CYS ?👀
#velvetusdt #Velvet #br #Cys