$VELVET Shorting continues, with an unrealized profit of 700💵

1. At high levels, trading volume increases while the price stalls; selling pressure begins to release. VELVET previously experienced a quick surge and accumulated a large amount of short-term profit-taking positions. Currently, at high levels, there are clear signals of volume expanding but price stalling. Trading volume has increased, but the price can’t move up anymore, indicating that seller power is outweighing buyer power.
2. A top structure is forming on the technical chart. From the candlestick pattern, recent swing highs have been gradually moving lower, and rebound strength has been weakening. Above 0.60, a clear resistance zone has already formed. Every time price pushes higher, it gets smashed back down, and the bulls are clearly running out of steam.
3. On-chain funds have not been continuously flowing in. The capital used to pull the price up earlier has been distributing gradually at high levels. On-chain data shows no new incremental capital entering. Under supply-and-demand competition among existing holders, it’s difficult for the price to stay at high levels.
4. Market sentiment has cooled, and follow-the-crowd demand is insufficient. As a small-cap asset, VELVET’s performance is highly dependent on market sentiment. With the overall market currently weak, altcoins tend to follow down but not rally up—so VELVET can hardly break out and strengthen on its own!#SK海力士ADR溢价超30%