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$VELVET is down over 30% in 24 hours, but the real question is: has the selling finished, or is another liquidity sweep coming?
On the 4H chart, VELVETUSDT is trading near $0.0526 after a sharp rejection from the $0.0763 area. Price is sitting below the MA(7), MA(25), and MA(99), showing that bearish momentum still controls the structure. The heavy sell-off was supported by a major volume spike, confirming strong selling pressure rather than a quiet pullback.
The $0.0587 area is now the key resistance. Unless buyers reclaim it with convincing volume, rebounds may continue to face selling pressure. On the downside, the recent $0.0456 low remains the major liquidity and support zone.
📉 My Trade Setup Bearish Bias
Entry: $0.0525–$0.0545
🎯 TP1: $0.0500
🎯 TP2: $0.0475
🎯 TP3: $0.0456
🛑 SL: $0.0588
$VELVET My Take: I wouldn't chase the drop blindly. The better setup is a weak bounce followed by rejection and renewed selling volume. A strong reclaim above $0.0587 would weaken the bearish view.
#VELVET #VELVETUSDT #TechnicalAnalysis $VELVET #AyeshaAbid **Do you think $0.0456 will hold, or is VELVET heading for a deeper breakdown?**