#CryptoTrading.

📊Technical Analysis (1 hour) $VELVET /USDT

1. Price and Trend:

• Current Price: 0.07984 USDT (+68.72% for the period).

• The chart shows a strong uptrend with a significant increase in volume (Vol: 80,151,227), which confirms the strength of the movement.

2. Moving Averages (MA):

• MA(5): 132,424,527 and MA(10): 52,907,345 indicate an upward movement, as the short-term MA is above the long-term one, which supports the bullish trend.

3. Bollinger Bands (20, 2):

• The price is close to the upper limit (UP: 0.10488), which may signal overbought conditions. The middle line (MB: 0.08148) and the lower line (DN: 0.05808) confirm the range.

4. MACD:

• DIF (0.00610) and DEA (0.00844), MACD (-0.00234) show that the upward momentum is weakening, as the MACD is below the zero line and is approaching a reversal signal.

5. Stochastic RSI:

• STOCHRSI: 33.89450 and MASTOCHRSI: 37.43607 are in the neutral zone, but are approaching the overbought zone (above 80), which may indicate a possible correction.

6. Volume:

• A significant increase in volume (up to 80 million) accompanies the upward movement, which is a positive signal, but the volume peak has already been passed, which may indicate a weakening momentum.

⚠️Conclusion:

• Strong bullish trend supported by volume and moving averages.

• Signs of a possible reversal or correction: price is close to the upper Bollinger Bands, weak MACD and Stochastic RSI approaching overbought.

• It is recommended to watch the support level near 0.05808 (lower Bollinger) and resistance at 0.10488. If the volume starts to fall, this may confirm a correction.