$VELVET Signal | High volume at resistance, 1H top divergence suppresses upward movement


$VELVET The 1H Bollinger upper band at 0.1224 was tested then rapidly fell back, MACD histogram shrank from 0.0028 to 0.0017, indicating a clear weakening of bullish momentum. The 4H Bollinger upper band at 0.1082 also acts as resistance, with the price repeatedly testing around 0.108. Market depth is imbalanced at -26.56%, with sell orders nearly twice as many as buy orders, indicating selling pressure is building. This position offers an unprofitable risk-reward ratio; waiting for a pullback for a more stable entry is advisable.
🎯Direction: Wait and see (re-enter on pullback)
⚡Entry/Order: 0.08978 - 0.10753
🛑Stop loss: 0.08229
🚀Target 1: 0.10476
🚀Target 2: 0.11226
🛡️Trade management:
- Execution strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss to break-even. If the price falls back to the entry level, exit automatically to protect capital.
View real-time market 👇 $VELVET
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VELVET9,3%
BTC-1,51%
ETH-3,72%
SOL-3,14%
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