$VELVET โ Technical Analysis (Short-Term)
๐ฐ Current Market Situation
Last price range: approx. $1.4 โ $1.8
Strong 24h volatility (pump + fast corrections)
High volume phases โ typical for hype/momentum tokens
RSI currently partially overbought according to data (โ70โ76)
๐ Interpretation:
The market is in a late impulse phase after a strong move
๐ Trend Structure
๐ข Higher Timeframe (4H / 1D)
clear uptrend (bullish structure intact)
higher highs + higher lows are present
High trend strength (ADX > 50 = strong trend)
๐ Conclusion: The trend has not been broken yet
โ ๏ธ Short-Term Structure (1Hโ4H)
strong upward impulse movement
followed by the first distribution and pullback phases
Volume fluctuates strongly (no stable follow-through)
๐ This shows: momentum is still there
but first signs of exhaustion
๐ Indicators
๐ง Momentum
RSI: overbought (~75) โ correction risk increases
Stochastic: neutral to overheated
MACD: still bullish but flattening
๐ Trend Indicators
EMA/SMA 20โ50: bullish (price above all key MAs)
EMA 200: far below price โ strong macro trend
๐ Volume
extremely high activity (pump phase)
but no constant accumulationโmore like spikes
๐งฑ Key Zones
๐ฉ Support Zones
$1.20 โ $1.30 โ first strong demand zone
$0.90 โ $1.00 โ structural support (breakout base)
๐ฅ Resistance Zones
$1.80 โ $1.90 โ local ATH / strong resistance
above: price discovery
โ๏ธ Scenarios (Short-Term)
๐ Bullish Case (LONG)
Only if:
$1.30 holds as support
Volume rises again during rebounds
Break above $1.80 with follow-through
๐ Target: new ATH / price discovery
๐ Bearish Case (SHORT)
More likely in the short term if:
Rejection at $1.70โ$1.80
RSI remains overbought
Volume drops after the pump
๐ Target:
retracement to $1.20
ggf. deeper into the $0.90 zone
Iโll wait to enter at a deeper zone in the 1.20โ1.30 area.
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