- VELO’s breakout from a downtrend signals bullish momentum, with strong buying interest supporting higher highs and higher lows.
- Volume spikes at key breakout points confirm investor confidence, reinforcing the potential for an extended rally.
- If VELO sustains its momentum, historical breakout patterns suggest a possible surge to $0.9528, marking a 7,010% gain.
VELO’s price movement has entered a reversal, and it is about to experience a tremendous bullish breakout, according to Javon Marks. The crypto has shifted from a protracted downtrend into an uptrend. With intense buying pressure, VELO appears to be about to enjoy a long rally that can hit up to $0.9528, an equivalent of 7,010% growth.
VELO’s Downtrend and Market Reversal
At first, there was a sharp drop in VELO, with lower highs and lows. The price action was dominated by a sinking trendline, which strengthened the bearish momentum. In addition, persistent breakouts below important support levels led to significant selling pressure. However, purchasing activity began to rise as prices approached a crucial support zone.
The downtrend’s termination was validated by a breakout above the falling trendline. As a result, this incident changed the mood of the market, creating a bullish structure with higher highs and higher lows. Strong investor confidence was indicated by the volume rise during this breakout, which confirmed the turnaround.
Bullish Momentum and Potential Upside
Since the trend reversal, VELO has remained in an uptrend. Moreover, the cryptocurrency has experienced several spells of consolidation, in which the buyers maintained control and kept deeper corrections at bay. Each of the retracements was followed by a rapid bounce, suggesting that strong demand is present.
Furthermore, Volume surges and breakout milestones have coincided, enhancing the upward trend. The pricing structure is still optimistic despite the market’s recent brief decline. This supports the possibility of another rally by pointing to a phase of consolidation rather than a reversal.
Based on past breakout patterns, VELO’s next price target is $0.9528. Breakout levels have historically functioned as strong support and resistance areas. The cryptocurrency may experience another significant rise if history is repeated, which would bring it closer to this lofty goal.
Final Outlook
VELO’s price action reflects a strong bullish setup, supported by key technical indicators. Moreover, as buyers continue to defend support levels, the market structure remains intact. A breakout past recent highs could trigger another explosive move.
Investor sentiment has improved as the cryptocurrency maintains an upward trajectory. Additionally, volume trends indicate sustained interest, further strengthening the bullish case. If VELO sustains its momentum, a substantial rally could follow, making $0.9528 a realistic target.
