【$VELVET Signal】Pullback to go long / 1H level accumulation

$VELVET After a sharp rise at the 1H level, the price pulls back and consolidates sideways around 0.0865. The upper band of the 4H Bollinger Bands at 0.0863 has been pierced but not stabilized, and the MACD histogram is still expanding, indicating that bullish momentum has not fully exhausted. The 1H EMA20 (0.0824) and EMA50 (0.0790) form a support band below, with buy orders 76% higher than sell orders, showing clear capital support intent. Currently, the 1H RSI is at 64.29, pulling back from overbought territory, providing a healthy retracement space. The 4H volume has shrunk after the rally, indicating a typical upward consolidation pattern rather than distribution.

The price is consolidating around 0.086, and bulls need a power-up. Chasing the high directly here carries higher risk, with an unfavorable risk-reward ratio. A better strategy is to wait for an active pullback to test the strength of the support below.

🎯Direction: Pullback to go long (place orders)

⚡Entry/Order placement: Lay orders near the lower boundary of 0.07886 - 0.08604, recommended around 0.0795.

🛑Stop loss: 0.07701

🚀Target 1: 0.08255

🚀Target 2: 0.08439

🛡️Trade management: - Execute strategy: When the price reaches 0.08255, reduce half of the position, and move the remaining stop loss up to the entry price. If the price fails to reach the order level and instead surges, abandon this trade and do not chase the high.

Market depth shows buy orders far exceeding sell orders, making a significant drop less likely under this structure. Although the 1H MACD fast and slow lines are converging, they are still above zero, indicating a strong correction. Coupled with a positive funding rate of 0.0067%, market sentiment is bullish but not overheated, leaving room for further upward movement. The key is whether the price can find effective support above the 1H EMA50.

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