$VELODROME Market Update:

Velodrome (VELO) is showing strong volatility, currently trading near $0.04729, up 25% in the last 24 hours. The token reached a high of $0.04973 and a low of $0.03783, reflecting aggressive intraday price swings.

After a strong upward move, the recent candles indicate short-term profit booking, with sellers starting to test near the $0.047 zone. If the selling pressure intensifies, the price may retrace toward $0.043 support before attempting another rebound.

🔹 Resistance levels: $0.049 – $0.050 – $0.051

🔹 Support levels: $0.046 – $0.043

🔹 Bias: Cautiously bullish above $0.046, bearish if it breaks below $0.043

Traders should watch for a clean breakout above $0.05 to confirm continued bullish momentum or a pullback setup for potential re-entry near lower supports.