$VELVET – Longs Liquidated Below Key Support

A long liquidation of $1.55K just hit at $0.07902, showing that bullish traders were caught offside on the latest drop.

This suggests support around $0.079 has cracked — now turning into resistance unless quickly reclaimed.

Key Technical Levels

Resistance: $0.0790 (former support, now flipped)

Support: $0.0755 (next downside buffer)

Bearish Bias

Continuation below $0.0785 could drag price toward $0.073–$0.075 range

Volume drop + lower highs = weakening trend

📌 Reclaim Setup

Fast bounce and reclaim of $0.079 = potential fakeout/liquidation trap

🔍 Watch for signs of demand stepping in — otherwise, more downside could unfold.

VELVETUSDT

Perp

0.08305

+80.07%

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