Velo Price Outlook: Can It Hold $0.010 for Growth or Will It Drop to $0.008?

Velo staying over $0.010 could indicate bullish action, which would mean potential for growth and profit.

A drop to $0.008 presents an ideal accumulation point for value-seeking long-term investors.

Under intense buying pressure, Velo can rise to $0.16, crossing resistance levels and going even higher.

Velo (VELO) has shown considerable price movement within a specific trading range. Analysts have picked out key levels of support and resistance that will determine its direction.

Long-Term Trends and Accumulation Zones

Velo’s price has followed a predictable pattern, with distinct phases of accumulation and breakout. Analysts are closely watching its ability to maintain important levels, which could shape its future price direction.

Dark Horseman has highlighted two key accumulation zones. He suggests that if Velo drops to $0.008, this could be an ideal point for long-term investors to accumulate. He also mentioned $0.010 as a critical level, where strong buying could signal strength and potential upside.

Source: Dark Horseman

In the past, Velo has shown a tendency to bounce back from these support levels. Volume and market sentiment often play a role in determining whether the price maintains its upward momentum or faces a pullback.

If Velo manages to stay above $0.010, there may be further opportunities for gains. Based on his analysis, there’s potential for a 25- 30X return from current price levels, assuming favorable market conditions.

Resistance Levels and Breakout Scenarios

Cihan Turkmen also spoke about the price structure of Velo, pointing out key support and resistance levels. He points out that $0.010 is the level to watch, and below that, the price can move towards $0.0030. He said that holding above $0.010 is crucial for any type of recovery.

Source: Cihan Turkmen

Turkmen also sees a possible upside, with Velo potentially reaching $0.16 if buying pressure intensifies. The price has been following a rising channel, showing consistently higher highs and lows. If Velo breaks past resistance, it could head towards this upper range. However, failing to maintain current levels could lead to prolonged consolidation or a correction.

Both analysts agree that market participation, volume, and external factors will play a major role in determining Velo’s price movement. Its ability to hold key levels will decide if it continues an upward trend or faces a downturn.