🚨 VELVET Is Pumping… But Is This a Trap?
is up more than 10% today, currently trading around $0.079. But the real question is — is this a genuine breakout, or just a liquidity hunt?
The 24H high sits near $0.085, yet strong resistance remains in the $0.080–0.082 zone. Every push toward this level has faced selling pressure. This could be classic distribution behavior rather than true accumulation.
⚠️ Market Cap is around $29M, while FDV is near $79M.
That gap suggests potential future token unlocks — meaning more supply could hit the market. Without strong demand, price may struggle to sustain upside momentum.
📉 If price closes below $0.075:
Next potential support sits around $0.070 — and in a worst-case scenario, a retest of the $0.064 zone is possible.
📈 A bullish scenario only activates if:
Price breaks above $0.082 with strong volume and sustains above key moving averages.
Right now, structure looks weak to neutral. This appears to be a bounce — not a confirmed trend reversal.
Low liquidity + sudden pump = high volatility risk.
Smart money waits for confirmation.
FOMO often walks into traps.
⚠️ Trade smart. Manage your risk.