【$VELVET Signal】Going long—buying at the 1H support zone

$VELVET 0.6037, the 4H MACD bullish histogram at 0.0187 is still expanding, but the 1H histogram has shrunk to 0.0074. The upper Bollinger band at 0.6111 is capping the price; the price is ranging and hugging the band. The funding rate is 0.005%, extremely low, and shorts have not accumulated. The depth buy/sell ratio is 0.43; sell-side thickness is leading by 39.8%, but there have been multiple bids around 0.59, and the downside has not broken through. Stop-loss at 0.5977 is only 1% away; the risk/reward is 1.5. The short-term trade-off ratio is still acceptable.
🎯Direction: Long
⚡Entry/limit orders: 0.601889 - 0.603700
🛑Stop-loss: 0.597663
🚀Target 1: 0.612756
🚀Target 2: 0.617283
🛡️Trade management: - Execute strategy: After reaching target 1, cut 50%, and move the stop-loss up to breakeven. If price falls back to the entry zone, automatically exit to protect principal.
The 4H bullish structure is intact; the 1H pullback has moved to around the EMA20 with decreasing volume, showing signs that selling pressure is weakening. OI is stable, with no abnormal funding—probability of a downside break in the short term is low.
Check live market 👇 $VELVET
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