【$VELVET Signal】RSI 96.3—buying pressure crushes the sell side; 1H momentum is fading but the 4H trend hasn’t been broken

$VELVET RSI has surged to 96.3. Buying depth is crushing the sell side by 6.57x. The funding rate is 0.0278%, which is on the high side, but it hasn’t reached the short-squeeze threshold. The 1H MACD histogram has shortened for three consecutive bars, showing momentum weakening. The 4H Bollinger Band upper band at 0.3613 has already been broken, and the current price at 0.37633 is holding above the upper band. Orders are densely placed around 0.3575 below, indicating a clear intention from the bulls to defend the market.

🎯Direction: Long

⚡Entry/Order: 0.3752010 - 0.3763300

🛑Stop loss: 0.3575135

🚀Target 1: 0.4045548

🚀Target 2: 0.4186671

🛡️Trade management:
- Execution strategy: After reaching Target 1, reduce the position by 50% and move the stop loss up to break-even. If the price falls back to the entry level, you will be automatically exited to protect capital.

RSI is extremely overbought, but capital inflows have not run out—under such circumstances, forcing a short carries an extremely high risk of getting squeezed. Going long requires accepting high volatility and potential pullbacks. The 4H MACD is still expanding; as long as the price doesn’t break below the 0.3575 support, the bullish structure remains intact.
Check real-time market 👇 $VELVET
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