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

$VELVET The 4H level price has broken out of the upper Bollinger band, RSI soared to 87, indicating a gap in buying pressure. The 1H MACD red bars are shrinking, indicating slowing bullish momentum. Sell orders are stacking above 0.088, with clear intent of capital support.

🎯Direction: Watch (pullback pending orders)

⚡Entry/Order: Long positions in the 0.07295 - 0.07300 range

🛑Stop loss: 0.06945

🚀Target 1: 0.08785

🚀Target 2: 0.08820

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

Currently, the price is consolidating at a high level after a significant surge on the 4H chart, with a high funding rate indicating overheated bullish sentiment. The 1H volume-price divergence suggests higher risk in chasing the rally. A more prudent strategy is to wait for the price to pull back near the 4H EMA20, observing the support strength. If it stabilizes around 0.073 and the 1H RSI drops from the overbought zone, it would be a more ideal entry point. The risk-reward ratio is not favorable at this high level.

Check real-time market 👇 $VELVET
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