VELO's bullish divergence signals a potential surge, with targets set at $0.015 and critical resistance at $0.020.
Current price near $0.0033 aligns with historical support zones, reinforcing potential upward momentum if key levels hold.
Consolidation near $0.011848 indicates indecision, while the ascending trendline supports VELO's bullish structural integrity.
VELO's price action suggests a critical turning point, with historical trends pointing toward another potential surge. Technical patterns reveal key support and resistance levels shaping current and future price movements.
Historical Trends and Key Divergences
VELO's price has demonstrated repeated surges following hidden bullish divergences. The biggest was between mid-to-late 2024, when the price increased by over 420%, from $0.0042 to over $0.022. The rally followed the confirmation of a bullish divergence, a pattern seen in other significant price rallies.
Technical analyst Javon Marks noted that VELO’s current price near $0.0033 aligns with historical support zones between $0.0025 and $0.0030. These levels have repeatedly served as accumulation points before price rallies. Marks explained that the MACD indicator is showing a hidden bullish divergence similar to the one preceding the 2024 surge. The histogram and signal lines indicate growing momentum, which could signal the start of a recovery.
Marks projected that VELO could reach levels above $0.015 if historical patterns repeat, with $0.020 identified as a critical resistance level. Current trends and technical indicators align with past setups, suggesting a potential continuation of bullish movement.
Ascending Trends and Support Zones
VELO's price history also reflects a consistent ascending trendline beginning in late 2022 near $0.0010. This trendline has supported higher lows through 2023 and into 2024, guiding the price upward.
According to analyst Rafaela RIGO, VELO's current trading price of $0.012477 is testing the mid-resistance level at $0.014000. This level intersects with the ascending trendline and has been a key reaction point throughout 2024. Rafaela highlighted that the upper resistance at $0.037553 remains unbroken, with previous attempts resulting in price reversals and long candlestick wicks.
Recent price activity shows narrowing ranges, with lower highs and higher lows forming a zone of consolidation. Rafaela noted that $0.011848 is a significant level of support. A close below here could set off a drop to the $0.007061 demand zone, which previously fueled massive rallies.
Rafaela further noted that reducing candlestick size represents reducing market participation, which indicates indecision or consolidation at significant points. Despite this, the uptrend trendline remains intact, with the door still open for further progress.
Both analysts stress the importance of current levels to supply structural strength. In the event of further bearish divergences and significant support holding, VELO can replicate past spurs and aim for price levels above $0.015.
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