VELO - Ready for Next Leg?
### Velodrome Finance (VELOUSD) Price Analysis
**Current Situation**: Velodrome Finance (VELOUSD) is currently trading around $0.089. This price level is within a significant support zone, which has historically provided a strong foundation for potential upward movements.
**Technical Indicators**:
1. **Support and Resistance**: The current support level is around $0.078, with resistance at approximately $0.105. Holding above the $0.078 support level is crucial for maintaining bullish momentum.
2. **Volume**: There has been a noticeable increase in trading volume, indicating strong market interest and potential for further price movement.
3. **Moving Averages**: The short-term moving averages are trending upwards, suggesting a bullish momentum³.
**Price Direction Forecast**:
Given the current price action and technical indicators, VELOUSD is likely to continue its upward trend. If it breaks above the $0.105 resistance level, it could target the next resistance around $0.12.
**Current Situation**: Velodrome Finance (VELOUSD) is currently trading around $0.089. This price level is within a significant support zone, which has historically provided a strong foundation for potential upward movements.
**Technical Indicators**:
1. **Support and Resistance**: The current support level is around $0.078, with resistance at approximately $0.105. Holding above the $0.078 support level is crucial for maintaining bullish momentum.
2. **Volume**: There has been a noticeable increase in trading volume, indicating strong market interest and potential for further price movement.
3. **Moving Averages**: The short-term moving averages are trending upwards, suggesting a bullish momentum³.
**Price Direction Forecast**:
Given the current price action and technical indicators, VELOUSD is likely to continue its upward trend. If it breaks above the $0.105 resistance level, it could target the next resistance around $0.12.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.