- VELO’s price setup resembles past rebounds, signaling a possible 170% surge if it holds above trendline support.
- RSI and WT0 show weak momentum, but past rebounds from these levels often sparked strong bullish moves.
- Analysts track trendline retests, as history suggests VELO could rally sharply if support holds.
VELO’s price remains within a structured pattern, reacting to key support and resistance levels. Analysts monitor market indicators to gauge potential price direction and trend strength.
Momentum and Price Strength Evaluation
JavonMarks analyzed VELO’s 48-hour time frame, noting higher lows in price while RSI showed lower lows. He pointed out this divergence suggests momentum remains strong despite pullbacks. He added that the setup aligns with past rebounds from trendline support.
Source: Javon Marks
A potential rally could push VELO up 170%, with $0.0389 as a key target. JavonMarks observed that similar rebounds led to surges. He emphasized that the current structure mirrors past trend reversals, reinforcing the possibility of another breakout.
Comparing current and past trendline interactions, JavonMarks identified multiple instances of price rebounds from similar support levels. He stated that traders are watching closely to see if this pattern holds.
RSI and Wave Trend Oscillator (WT0) indicate reduced momentum, but JavonMarks noted past recoveries from these levels often triggered bullish reversals. He suggested analysts are waiting to see if VELO holds trendline support or consolidates further.
Trendline Recovery and Market Indicators
RobinDesBois reviewed VELO’s price action, highlighting a break below trendline support followed by recovery. He pointed out trading volume spiked during rallies and declined during corrections, signaling measured market activity.
Source: RobinDesBois
RSI remained below 50, indicating weaker momentum but no extreme oversold conditions. RobinDesBois noted that WT0’s histogram bars were negative but showed signs of a potential shift. He highlighted a key area on WT0’s latest data point, suggesting it could influence upcoming price action.
Looking at historical data, RobinDesBois stated that similar trendline retests have often led to strong upward momentum shifts. He confirmed that analysts are closely monitoring these signals to assess the likelihood of another move. If the pattern holds, a potential price surge could follow.
He also noted that past trendline recoveries resulted in strong price action and increased demand at key levels. He stated analysts remain focused on whether VELO holds trendline support or enters consolidation.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed