🟣 VELVET Update
VELVET is showing very high volatility after its huge August move. Recent data shows it surged above $1.00, then suffered a sharp pullback toward the $0.57–$0.60 area.
Key levels:
🟢 Support: $0.57–$0.60
🟢 Stronger support: ~$0.50
🔴 Resistance: $0.70–$0.75
🚀 Major breakout: $1.00–$1.12
🎯 If $1.12 breaks with strong volume → $1.30–$1.60 becomes possible.
My view: 🟢 Bullish above $0.60, but don't chase a sudden pump. A clean reclaim of $0.70–$0.75 would strengthen the setup. Below $0.57, downside risk increases.
⚠️ VELVET is extremely volatile—use a tight risk plan, especially on futures.$VELVET
VELVET is showing very high volatility after its huge August move. Recent data shows it surged above $1.00, then suffered a sharp pullback toward the $0.57–$0.60 area.
Key levels:
🟢 Support: $0.57–$0.60
🟢 Stronger support: ~$0.50
🔴 Resistance: $0.70–$0.75
🚀 Major breakout: $1.00–$1.12
🎯 If $1.12 breaks with strong volume → $1.30–$1.60 becomes possible.
My view: 🟢 Bullish above $0.60, but don't chase a sudden pump. A clean reclaim of $0.70–$0.75 would strengthen the setup. Below $0.57, downside risk increases.
⚠️ VELVET is extremely volatile—use a tight risk plan, especially on futures.$VELVET