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$VELVET is up 24.67% over the past 24 hours, now at 0.7020, just 6% below the high of 0.75. That overnight move from 0.5357 straight back up in a V-shape was backed by 82M in trading volume—real money, not chart-drawing theatrics.
Scenario analysis: If it can hold above 0.70 today, it will likely test 0.75, and a breakout would put the round-number level of 0.80 in play; but if it falls below 0.68, this rebound will turn into an exit wave, and a pullback to 0.62 is not out of the question.
My own trading plan: If it pulls back to around 0.69 without breaking below, I’ll take a small position