【$VELVET Signal】Pullback confirmation—chase the long on the right side

$VELVET 1H timeframe shows a pullback with reduced volume to the EMA20; the intent of buy-side support has been fully exposed. The 4H Bollinger Bands are opening upward; the price is standing above the upper band. After the MACD dual lines form a golden cross, volumes keep increasing. Order book depth shows sell orders stacked above 0.0857, but buy orders are forming a dense support wall around 0.0852, making the fund-backed support clearly evident.

🎯 Direction: Go long

⚡ Entry: Enter directly at the current price of 0.08535, or place a pending order around 0.08492 to bide your time.

🛑 Stop loss: 0.06875

🚀 Target 1: 0.08547

🚀 Target 2: 0.08582

🛡️ Trade management: - Execute the strategy: After the price touches Target 1, cut the position in half; move the remaining stop loss up to the entry price. If the price cannot hold above 0.0855 and quickly drops back, consider exiting early.

The 1H RSI has fallen from a high of 71, which indicates a healthy correction. On the 4H timeframe, the MACD histogram is still expanding, and bullish momentum has not yet weakened. Position volume is stable, and the funding rate at 0.041% is at a moderate level, with no extreme squeeze risk. The current risk-reward ratio isn’t perfect, but the momentum structure is intact. Chasing on the right side fits the current market conditions better than trying to guess the top on the left side.

Check real-time market data 👇 $VELVET
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