Velo, a cryptocurrency with the ticker symbol VELO, has seen a significant price surge in the past 24 hours. Its trading volume has increased, indicating increased interest from market participants. RSI and Bollinger Bands show that the token still has room to rally before reaching overbought levels. This suggests that VELO has potential for further gains. Liquidation data reveals strong long positions, but skepticism remains due to a high short ratio. This skepticism may temporarily hinder the token’s breakout potential. However, if VELO breaks through the $0.019 resistance level, it could continue to rally. The market will be watching to see if VELO can maintain its upward momentum and break through the resistance.
Source: <span style="font-weight: 400;">Velo [VELO]</span>