$VELODROME
/USDT TECHNICAL ANALYSIS — STRONG UPTREND WITH SHORT-TERM CONSOLIDATION LIKELY
has shown an impressive +31.99% surge, currently trading around $0.0425, after hitting a 24h high of $0.0465. This move confirms strong bullish momentum supported by a sharp increase in trading volume (194.62M VELODROME / $7.58M USDT), indicating active market participation.
On the 4H timeframe, the price has broken through multiple resistance levels near $0.0377 and $0.041, turning them into potential support zones. The next major resistance lies at $0.0499, and a breakout above this could propel the price towards $0.055–$0.060 in the short term.
However, RSI indicates a slightly overbought condition, suggesting a short-term pullback or sideways movement before continuation. A retest of $0.038–$0.040 would be healthy for maintaining bullish structure.
Trend Outlook: Bullish
Immediate Support: $0.0377
Resistance Levels: $0.0465 / $0.0499
Potential Target (Short-Term): $0.055–$0.060
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