$VELVET is now approaching the next major support zone around $0.47–$0.49.
This is an important area to watch after the sharp rejection from the highs.
🔹 $0.47–$0.49 — first major support
If this zone fails, the correction could accelerate toward $0.43–$0.38
⚠️ $0.38 is the key level.
This is a much stronger and more important support zone. Holding above it could give buyers a chance to stabilize the structure.
But if $0.38 breaks and price starts accepting below it, deeper correction becomes possible $0.28 → $0.26
For now, $0.47–$0.49 is the first zone to watch, while $0.38 is the real line in the sand.
This is an important area to watch after the sharp rejection from the highs.
🔹 $0.47–$0.49 — first major support
If this zone fails, the correction could accelerate toward $0.43–$0.38
⚠️ $0.38 is the key level.
This is a much stronger and more important support zone. Holding above it could give buyers a chance to stabilize the structure.
But if $0.38 breaks and price starts accepting below it, deeper correction becomes possible $0.28 → $0.26
For now, $0.47–$0.49 is the first zone to watch, while $0.38 is the real line in the sand.
