VELAAI RWA 2H chart analysis based on todays chartHere'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.
