- VELO’s price is nearing a critical resistance level, with signs of another major breakout.
- Trading volume is rising, indicating the potential for greater market momentum and price increases.
- Historical patterns suggest VELO could see a +171% price increase, with more potential if volume continues to grow.
VELO appears to be gearing up for another key price breakout, following a consistent trend of past surges. The cryptocurrency has shown signs of building up within a logarithmic resistance, with previous instances of this pattern resulting in significant upward movement. Investors are closely watching the current setup, as the possibility of a major price jump seems imminent.
Volume Indicates Further Potential for Growth
A notable factor that sets this potential breakout apart from others is the cryptocurrency’s volume. VELO’s trading volume is nearing a key level that suggests an impending breakout. Volume often plays a crucial role in confirming price movements, and if VELO’s volume continues to rise, the resulting price move could be even more substantial than initially expected.
According to Javon Marks analysis, VELO shows a series of price movements resembling an upward trend followed by consolidations. The market initially experienced a sharp rise before entering a downward correction. The pattern forms multiple smaller consolidations, each followed by a breakout.
During each consolidation phase, volume tends to decrease. The chart illustrates a repetitive cycle of price action with potential support and resistance zones marked. The market structure appears to follow similar patterns over time, reflecting typical bullish and bearish phases.
Projected Price Movement and Potential Gains
At the very least, VELO may experience a +171% price movement, according to current chart patterns and resistance levels. However, with the volume poised for a breakout, the price surge could extend beyond these expectations, surprising many traders and analysts. The combined effect of these two factors resistance trend and increasing volume sets the stage for a potentially explosive run in the near future.
Technically, VELO’s chart shows the cryptocurrency in a familiar pattern of preparing for a breakout. The logarithmic resistance observed in previous breakouts has led to significant price movements, and the same could unfold again. As the volume continues to build up, the conditions appear favorable for a substantial upward trend, making VELO a focal point for traders looking to capitalize on this potential.
