$VELVET is currently undergoing a sharp correction after reaching a recent local high near 1.27, trading close to the 0.553 zone. This sharp drop has brought price action directly down to test a major demand level and key historical support area around 0.547 - 0.550. If buyers can defend this critical baseline and stabilize price action, we could witness a strong relief bounce back toward the upper resistance zones.

Target 1: 0.700

Target 2: 0.880

Target 3: 1.050

#VELVET #Crypto #Binance #Trading
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