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VELVET/USDT Technical Analysis (15-Minute Timeframe)
Current Price: 0.3723
24h Change: -11.42%
24h High: 0.5871
24h Low: 0.3024
Trend Analysis
✅ The price is trading above MA(7) = 0.3673 and MA(25) = 0.3643, indicating short-term bullish momentum.
❌ However, the price remains below MA(99) = 0.4148, which suggests the overall trend is still bearish.
Key Levels
Support Zones:
0.3570 – 0.3600
Strong support near 0.3300
Resistance Zones:
0.3870 – 0.3925
Major resistance around 0.4150
Trading Idea
Long Setup
Entry: Above 0.372–0.375 with strong volume.
Targets: 0.387 → 0.392 → 0.415
Stop Loss: Below 0.357
Short Setup
Entry: If price breaks below 0.357 support.
Targets: 0.340 → 0.330
Stop Loss: Above 0.375
Conclusion
The chart shows a short-term recovery after a recent decline. Buyers are attempting to push the price higher, but the market is still below the long-term moving average. A breakout above 0.3925 could signal stronger bullish momentum, while a drop below 0.357 may lead to further downside.
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