#Velodrome is up 18% today, but a Binance Monitoring Tag still hangs over it.
SPOT SETUP:
$VELODROME Entry: 0.02400 – 0.02500
TP1: 0.02700
TP2: 0.02900
TP3: 0.03200
The token is rebounding after sweeping the 0.02134 low, with momentum pushing it toward the 0.02558 high. Velodrome's cumulative trading volume recently hit $7.5B across 84 epochs, distributing roughly $33M in rewards to veVELO lockers. However, Binance added
$VELODROME to its Monitoring Tag list back in April, which historically signals elevated risk. The rally is impressive, but the tag remains a shadow over the move.
Risk: A break below 0.02350 would suggest the bounce is losing steam and could lead to a retest of the lows.
Does the Monitoring Tag change how you approach this rally, or are you riding the momentum regardless?