$VELVET has recorded a Long Liquidation worth $1.0029K at $0.40935, indicating that leveraged bullish positions were forced out during the latest downside move. Such liquidation events often remove weak hands and can lead to a sharp recovery if buyers reclaim key levels. Watch for increasing volume before anticipating a reversal.
Support: $0.4020–0.4080
Resistance: $0.4200–0.4300
Next Target: $0.4450 on a confirmed breakout. Failure to hold support could extend the decline toward $0.3920.
Trade with patience and wait for confirmation.
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