Can VELO break Resistance
To break through the resistance zone at $0.1233, VELO needs to demonstrate strong buying momentum. Here are a few key factors to watch:
1. **Volume Surge**: A significant increase in trading volume can indicate strong buying interest, which is crucial for breaking through resistance levels.
2. **Positive News or Catalysts**: Any positive news, such as favorable macro reports or strategic partnerships, can boost investor confidence and drive the price higher.
3. **Technical Indicators**: Look for bullish signals from technical indicators like the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD). These can confirm the strength of the upward move.
Once VELO breaks through $0.1233, the next steps could include:
1. **Retest of Support**: The previous resistance level may become a new support level. Watch for a retest of this level to confirm the breakout.
2. **Targeting Higher Resistance Levels**: VELO may aim for the next resistance levels marked out in orange and yellow.
3. **Sustained Uptrend**: If the breakout is supported by strong fundamentals and market sentiment, VELO could enter a sustained uptrend, attracting more investors.
1. **Volume Surge**: A significant increase in trading volume can indicate strong buying interest, which is crucial for breaking through resistance levels.
2. **Positive News or Catalysts**: Any positive news, such as favorable macro reports or strategic partnerships, can boost investor confidence and drive the price higher.
3. **Technical Indicators**: Look for bullish signals from technical indicators like the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD). These can confirm the strength of the upward move.
Once VELO breaks through $0.1233, the next steps could include:
1. **Retest of Support**: The previous resistance level may become a new support level. Watch for a retest of this level to confirm the breakout.
2. **Targeting Higher Resistance Levels**: VELO may aim for the next resistance levels marked out in orange and yellow.
3. **Sustained Uptrend**: If the breakout is supported by strong fundamentals and market sentiment, VELO could enter a sustained uptrend, attracting more investors.
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