【$VELVET Signal】Breakthrough pullback, bullish momentum to be confirmed

$VELVET The 4H level price has broken out of the upper Bollinger Band, RSI soared to 88.98, initial signs of buy-side gap. The 1H MACD histogram is shrinking, momentum slowing, and the price is repeatedly testing around 0.091. Market depth shows heavy orders below 0.0909, with clear capital support intentions, but sell orders are stacking around 0.0915.

🎯Direction: Watch (pullback orders to go long)

⚡Entry/Order: Between 0.07475 - 0.09065, prioritize orders around 0.085

🛑Stop Loss: 0.07035

🚀Target 1: 0.09130

🚀Target 2: 0.09166

🛡️Trade Management:
- Execution strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss to break-even. If the price falls back into the entry zone, exit automatically to protect capital.

Current holdings are stable, but the funding rate of 0.069% is relatively high, increasing the risk of chasing longs. The 1H RSI has fallen from a high to 76.59. If the price can pull back and stay above the 4H EMA20 (0.0746), combined with market depth support, it would be a more ideal position for deployment. The risk-reward ratio is not attractive at the moment; patience is needed to wait for the price to retrace some gains and relieve overbought pressure.

Check real-time market 👇 $VELVET
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