$VELODROME (VELO/USDT) Technical Update and Best Trading Strategy ๐Ÿง‘โ€๐Ÿ’ป ๐Ÿ” ๐Ÿ‘‡

๐Ÿ•ฐ๏ธ Timeframe: 1H & 1D

๐Ÿ“‰ Price: $0.0491

๐Ÿ”ป 24H Change: -3.16%

๐Ÿ“Š Chart Observations:

โœ… 1H Timeframe:

$VELODROME trying to form short-term higher lows after a sharp dip.

Currently facing resistance around $0.0505, with support near $0.0490.

MACD starting to show early signs of bullish momentum build-up.

RSI (48.27) is neutral, indicating potential space for upside if volume increases.

โŒ 1D Timeframe:

Still below the 20 and 50 EMA โ€” showing a bearish structure.

Price failing to break above $0.0530 resistance.

MACD histogram remains red with negative crossover lines โ€” downtrend still active.

RSI at 40.78 suggests mild oversold zone โ€” bounce possible but not confirmed.

๐Ÿ” Verdict:

Short-term recovery attempts visible, but larger trend is still bearish.

A 4H candle close above $0.0530 will be essential to flip bias.

Until then, this remains a sell-on-rise zone or a wait-and-watch for spot buyers.

๐ŸŽฏ Trade Plan:๐Ÿง‘โ€๐Ÿซ

Resistance: $0.0505 / $0.0530

Support: $0.0470 / $0.0445

โš ๏ธ Break below $0.0465 = continuation of bearish structure.

๐Ÿ“Œ Pro Tip: โ€œWhen a token consolidates in a downtrend without volume, it's often preparing for a stronger breakout โ€” in either direction. Let the chart confirm before jumping in.โ€

๐Ÿง  "Donโ€™t chase the move โ€” master the setup."

โš ๏ธ This is not financial advice. Do your own research and manage your risk properly.

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