【$VELVET Signal】Bullish | Healthy Pullback After Breakout with Volume

After a 13.78% volume-driven surge, $VELVET is consolidating within a narrow range below the previous high resistance zone. The 4H chart shows that after breaking through 0.10895, the price formed a pennant pattern between 0.11785 and 0.123, which is a typical bullish continuation pattern.

🎯Direction: Long

🎯Entry: 0.118 - 0.120

🛑Stop Loss: 0.115 (Rigid Stop Loss)

🚀Target 1: 0.128

🚀Target 2: 0.135

Hardcore Logic: This rally was accompanied by stable open interest and significant volume increase, not just a short squeeze. Key data points: 1) The last 4H bullish candle's buy/sell ratio is 0.46, indicating selling pressure is being absorbed during the rally, which is healthy turnover; 2) After breaking out, the price did not fall back quickly but instead formed tight consolidation at high levels, showing strong buying support; 3) Order book data shows that ask orders above 0.120 have significantly increased, forming a short-term resistance wall, while bid orders in the 0.1195-0.1198 range are densely accumulated, creating a solid support base. The current consolidation can be seen as the main force preparing before a key resistance, aiming to clear out floating positions. As long as the price stays above 0.117, the probability of breaking through the resistance wall upward will greatly increase.

Trade here 👇 $VELVET

---

Follow me: Get more real-time analysis and insights on the crypto market!