VELAS is ready to fly (Alex Alexandrow is back)🚀 VELAS: The Future of Blockchain! 🚀
NOW is the time to act on VELAS ( LSE:VLX )! With the return of Alex Alexandrow, a pivotal figure in the Velas ecosystem, the project is re-energized, and bullish momentum is about to take off. This is your chance to get in at the right time before Velas rockets up. The chart shows a clear bullish reversal pattern, signaling a massive breakout potential! The clock is ticking, be part of the next wave in crypto!
Technical Analysis of VELAS ( LSE:VLX ) by Blaž Fabjan
The 1-hour chart of VELAS shows the formation of a classic falling wedge pattern, which is a well-known bullish reversal signal.
Here's a detailed breakdown:
Falling Wedge: Bullish Reversal
Support and Resistance: The wedge pattern is narrowing, indicating that the price has been consolidating, building pressure for a breakout.
Breakout Imminent: As the price has broken out of the wedge, this confirms a potential bullish reversal. Expect upward momentum in the near future.
Technical Indicators
VMC Cipher B (Volatility & Momentum):
The indicator shows signs of divergence, with momentum shifting towards bullish territory. Expect increased buying pressure soon.
Look for key bullish signals like green dots or a shift in the oscillator for confirmation.
RSI (Relative Strength Index):
RSI is hovering around 44.7, indicating that the asset is neutral but leaning towards an oversold condition. This suggests the price is ready to rise as momentum builds.
Stochastic Oscillator:
The stochastic is bouncing from a low of 47, indicating that bullish momentum is starting to pick up. Crossovers here signal a potential upward trend.
Key Levels to Watch
Immediate Resistance: $0.01194 — this level is crucial for confirming the bullish reversal. Once broken, it opens the door for further gains.
Next Targets: After surpassing $0.01194, the next target is around $0.0166, which is the previous high and a major psychological barrier.
Support: $0.01115 — should act as strong support if prices retest this level during a short-term pullback.
Trading Plan for VELAS
Entry Strategy:
Entry Zone: $0.0112 to $0.0115 — this area offers a prime buying opportunity with minimum downside risk. Set limit orders in this range.
Breakout Buy: If Velas breaks above $0.01194 (resistance), a momentum trade can be initiated, targeting the $0.0166 level.
Stop Loss:
$0.0108 — place a stop loss below this level, ensuring protection against any sudden downside moves while allowing enough room for price fluctuation during consolidation.
Take Profit Targets:
$0.014 (Short-term)
$0.0166 (Medium-term)
$0.017 and beyond (Long-term upside potential)
Risk Management:
Risk-to-reward ratio should be at least 1:3. Allocate no more than 2-3% of your total portfolio to each trade, maintaining a balanced exposure.
Velas is Ready to Fly 🚀
With the technical patterns aligning and the return of key leadership, VELAS is poised for a bullish breakout. This presents a golden opportunity for both short-term traders and long-term investors. Don’t wait too long—once the breakout happens, the price could surge quickly!
Start building your positions now before the hype takes this token to new heights is my advice :) Best regards, Blaž
