๐ $VELO โ Critical Moment After Wedge Breakdown ๐
Velo ($VELO ) is showing a decisive reaction from its key Demand Zone, right after the Rising Wedge breakdown retest โ a classic make-or-break setup.
๐น Structure Insight:
The price has bounced precisely from the demand zone that previously acted as a major accumulation base. This rebound indicates that buyers are still defending this level with strength.
๐น Whatโs Next:
If the current reaction holds, we could see a revisit toward the former wedge zone, signaling potential short-term recovery and structure retest.
However, a loss of momentum or daily close below the demand zone could confirm a continuation of the bearish leg, extending the larger correction phase.
๐ธ Key Levels to Watch:
Support: 0.0065 โ 0.0070 (Demand Zone)
Resistance: 0.0090 โ 0.0110 (Wedge Retest Area)
โ ๏ธ This remains a critical junction โ a strong bounce here could reset bullish momentum, while failure could deepen the long-term downtrend.
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