VELODROME FINANCE. 0.34 USDT BY END OF MARCH 2025 GOD WILLING.
HOW IS ALL THIS POSSIBLE YOU SAY? REMEMBER TWO WORDS " KRAKEN" AND " SONEIUM"
From the technical perspective, **Velodrome Finance (VELO)** appears to be completing a classic corrective phase following its previous strong rally. Multiple indicators suggest that selling pressure may be subsiding, setting the stage for a potential bullish reversal. Below are the key observations:
1. **Elliott Wave Structure**
- The chart labeling points to a clear five-wave advance (1 through 5), followed by an A-B-C corrective pattern. Prices now appear to be completing the final leg of this correction.
- Often, once a final C wave completes, the market transitions into a new bullish impulse.
2. **Hidden Bullish Divergences**
- On both the **Williams R%** and **Stoch RSI** panels, hidden bullish divergences have formed as price made lower lows while the indicators made higher lows.
- Such hidden divergences indicate that selling momentum is weakening and may foreshadow an upswing in price.
3. **Decreasing Net Outflows from OKX EXCHANGE**
- The chart’s “Net Money Flow” metric for OKX shows that net outflows have tapered off after reaching peak selling levels.
- A reduction in outflows can signal that strong selling activity is slowing down, possibly leaving room for a price recovery if buyers re-enter the market.
4. **Support Zones Holding**
- Key horizontal supports around the current price region (labeled as areas of “Hidden Bull” in the chart) have consistently held price action.
- Each time the market has tested these support levels, buyers have managed to keep the price from collapsing further.
5. **Upside Potential**
- If the corrective wave is indeed reaching completion, a sustained move above the nearest resistance levels (around the 0.12 – 0.15 USDT range) could spark a stronger bullish push.
- In a highly optimistic scenario, momentum buyers returning to Velodrome might drive price back toward prior swing highs in the 0.20 – 0.30 USDT zone.
**Bottom Line**
While market conditions are always subject to change, these signals—hidden bullish divergences, tapering net outflows, and firm support—point to a potentially favorable shift in momentum for Velodrome. A breakout above immediate resistance could solidify this bullish thesis and kick-start a meaningful rally in the weeks ahead.
From the technical perspective, **Velodrome Finance (VELO)** appears to be completing a classic corrective phase following its previous strong rally. Multiple indicators suggest that selling pressure may be subsiding, setting the stage for a potential bullish reversal. Below are the key observations:
1. **Elliott Wave Structure**
- The chart labeling points to a clear five-wave advance (1 through 5), followed by an A-B-C corrective pattern. Prices now appear to be completing the final leg of this correction.
- Often, once a final C wave completes, the market transitions into a new bullish impulse.
2. **Hidden Bullish Divergences**
- On both the **Williams R%** and **Stoch RSI** panels, hidden bullish divergences have formed as price made lower lows while the indicators made higher lows.
- Such hidden divergences indicate that selling momentum is weakening and may foreshadow an upswing in price.
3. **Decreasing Net Outflows from OKX EXCHANGE**
- The chart’s “Net Money Flow” metric for OKX shows that net outflows have tapered off after reaching peak selling levels.
- A reduction in outflows can signal that strong selling activity is slowing down, possibly leaving room for a price recovery if buyers re-enter the market.
4. **Support Zones Holding**
- Key horizontal supports around the current price region (labeled as areas of “Hidden Bull” in the chart) have consistently held price action.
- Each time the market has tested these support levels, buyers have managed to keep the price from collapsing further.
5. **Upside Potential**
- If the corrective wave is indeed reaching completion, a sustained move above the nearest resistance levels (around the 0.12 – 0.15 USDT range) could spark a stronger bullish push.
- In a highly optimistic scenario, momentum buyers returning to Velodrome might drive price back toward prior swing highs in the 0.20 – 0.30 USDT zone.
**Bottom Line**
While market conditions are always subject to change, these signals—hidden bullish divergences, tapering net outflows, and firm support—point to a potentially favorable shift in momentum for Velodrome. A breakout above immediate resistance could solidify this bullish thesis and kick-start a meaningful rally in the weeks ahead.
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.