đšđš...$VELVET is currently trading around $0.070 after a strong downtrend from the $0.13 zone, showing continued bearish market structure with lower highs and lower lows.
đ Key Observations:
âą Price has broken multiple support levels and is now hovering near the $0.064â$0.070 demand zone
âą RSI at ~13 indicates extremely oversold conditions
âą Weak bounce attempts suggest sellers still in control
âą Volume spike on the dump signals panic selling / liquidity sweep
đ Key Levels:
âą Support: $0.0644 â critical hold zone
âą Resistance: $0.076â$0.083
âą Major Resistance: $0.095
If $0.064 support holds, we could see a short-term relief bounce toward $0.076â$0.083.
Breakdown below $0.064 may trigger another leg down and continuation of the bearish trend.
â ïž Momentum remains bearish unless price reclaims the $0.083+ zone with strong volume.
Patience is key â watch for confirmation before entering.