Here's the VELAAI/USDT (2H, GateIO, Heikin Ashi) chart analysis based on todays chart:
📊 Overview
Current Price: $0.02809
Change: Slight -0.12%, showing sideways movement after a major downtrend and breakout.
Timeframe: 2-hour (short-term sentiment)
🔍 Technical Insights
✅ Market Structure
Strong Downtrend: From ~$0.12 to a local bottom around $0.016 — confirmed by multiple Break of Structure (BOS) levels.
Trendline Breakout: Descending trendline (from late May) was broken with volume surge — early bullish reversal signal.
Accumulation Range: Price is currently range-bound between $0.025–$0.031, showing signs of equal highs (EQH) and equal lows (EQL) — a classic accumulation zone.
📉 Support & Resistance
Support Zone: $0.020–$0.025 (must hold for bullish bias)
Resistance Zone: $0.032–$0.038 (watch for breakout)
Weak High Target: ~$0.065 (from structural inefficiency if breakout occurs)
🔧 Indicators
Volume Spike: Seen on breakout of descending trendline — smart money interest.
Stochastic RSI: Currently turning upward, indicating potential momentum build-up.
MACD-like Momentum: Compression followed by a second curve up — often precedes volatility expansion.
📈 Trading Outlook
Bias: Bullish Accumulation
Entry Zone: $0.026–$0.028 (accumulation area)
Short-Term Target: $0.034–$0.038
Breakout Target: $0.045–$0.065
Invalidation Level: Below $0.020 (or loss of accumulation structure)
🚨 Final Thoughts
VELAAI is showing early signs of a reversal after a heavy downtrend, with clear accumulation and a potential for breakout above EQHs. The next move depends on whether it can push past the $0.032–$0.035 resistance zone with volume confirmation.
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Disclosures
This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
📊 Overview
Current Price: $0.02809
Change: Slight -0.12%, showing sideways movement after a major downtrend and breakout.
Timeframe: 2-hour (short-term sentiment)
🔍 Technical Insights
✅ Market Structure
Strong Downtrend: From ~$0.12 to a local bottom around $0.016 — confirmed by multiple Break of Structure (BOS) levels.
Trendline Breakout: Descending trendline (from late May) was broken with volume surge — early bullish reversal signal.
Accumulation Range: Price is currently range-bound between $0.025–$0.031, showing signs of equal highs (EQH) and equal lows (EQL) — a classic accumulation zone.
📉 Support & Resistance
Support Zone: $0.020–$0.025 (must hold for bullish bias)
Resistance Zone: $0.032–$0.038 (watch for breakout)
Weak High Target: ~$0.065 (from structural inefficiency if breakout occurs)
🔧 Indicators
Volume Spike: Seen on breakout of descending trendline — smart money interest.
Stochastic RSI: Currently turning upward, indicating potential momentum build-up.
MACD-like Momentum: Compression followed by a second curve up — often precedes volatility expansion.
📈 Trading Outlook
Bias: Bullish Accumulation
Entry Zone: $0.026–$0.028 (accumulation area)
Short-Term Target: $0.034–$0.038
Breakout Target: $0.045–$0.065
Invalidation Level: Below $0.020 (or loss of accumulation structure)
🚨 Final Thoughts
VELAAI is showing early signs of a reversal after a heavy downtrend, with clear accumulation and a potential for breakout above EQHs. The next move depends on whether it can push past the $0.032–$0.035 resistance zone with volume confirmation.
--------------
Disclosures
This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.