- VELO remains locked in a tight range with resistance near $0.025 and $0.015.
- Trendline compression and repeated range-low wicks signal breakout pressure building.
- Bullish divergence supports a reversal setup, with $0.0068 holding as key long-term support.
VELO is trading near critical levels, where analysts are monitoring horizontal support alongside visible trend compression. The price remains range-bound with diminishing volatility, indicating conditions that often precede a significant breakout.
Descending Pressure Meets Horizontal Structure
Source: Sjuul| AltCryptoGems
As we can see from the post above, bearish analyst Sjuul AltCryptoGems outlined VELO’s constrained structure on the daily KuCoin chart. Price remains capped near $0.025000, acting as the range high across repeated attempts. The mid-level near $0.015000 and range low near $0.010000 complete the horizontal channel that has held for nearly a year.
Initial rejections from the range high formed a descending trendline, which currently intersects with recent candles near the lower boundary. Price has traded below the mid-range throughout April, confirming that zone as a short-term ceiling. The descending trendline and horizontal support now create compression, forming a wedge structure.
Sjuul marked two directional scenarios from the current setup. One arrow shows a breakout through the trendline into the mid-range zone. The second arrow indicates a breakdown below $0.010000, which would open potential downside toward early 2023 levels. Repeated wicks near the range low reflect absorption, though buyers have not regained trendline control.
Until the trendline breaks or support fails, the VELO price remains locked in range-bound consolidation. No significant breakout or breakdown has occurred since the structure formed, and candles near support continue to compress. This contraction signals growing pressure ahead of VELO’s next macro directional move.
Momentum Divergence Builds Near Cycle Lows
Another prominent analyst, Javon Marks, has gone bullish on VELO, citing a potential double-bottom structure forming above $0.006800. The pattern aligns with prior support tested in mid-2023 and revisited in April 2025. Both lows appear equal, marked clearly across the main price chart.
Source: Javon Marks
Javon presented a comparative analysis using oscillator data beneath the price action. The momentum oscillator formed higher lows, diverging from flat price action above support. This divergence aligns with the bullish schematic shown in the top-right corner of the post.
Marks also noted a projected arrow pointing toward higher levels, with resistance near $0.020000 as the next structural target. His chart includes a rounded oscillator bottom, implying a momentum shift from declining to rising phase. The price structure remains intact unless VELO breaks decisively below $0.006800.
