- Despite recent dips, VELO’s indicators suggest the potential for explosive growth, with analysts predicting a surge of over 18,000%.
- A significant price increase will make way for a new ATH.
- VELO’s position relative to Bollinger Bands, moving averages, and rising RSI signal positive momentum.
VELO token is catching the eyes of many investors with its potential for massive gains. According to the post below, Javon Marks, a crypto analyst, suggests that VELO could reach $1.6534 once the upward rally is triggered. Several key indicators suggest that VELO could be on the brink of an explosive surge, potentially reaching new all-time highs (ATH).
Currently trading at just $0.008, VELO presents a unique opportunity for those willing to take a calculated risk in the volatile crypto market. Velo rallied by 460% from a March low of $0.005 to reach a high of $0.028 in April. Following this remarkable growth, VELO’s price dipped to $0.0075 by the beginning of July.
The price is trading above the lower Bollinger Bands on the daily, weekly, and monthly charts. This positioning signals a positive sign for potential upward movement.
Despite this price fall, some analysts believe that VELO is poised could could surge by over 18,000% soon. A crucial aspect of VELO’s current performance is its position relative to the Bollinger Bands on various timeframes.
Additionally, VELO’s price is currently below its moving average but is on a rising trend across daily, weekly, and monthly charts. This upward trajectory suggests that the cryptocurrency is slowly gaining momentum.
VELO’s price will soon surpass the 20-day moving average if the prevailing factors don’t change. This will give a strong bullish signal for traders looking to invest in this resilient token.
Another critical indicator is the Relative Strength Index (RSI). On both the daily and monthly charts, VELO’s RSI readings show that the price is at support but rising gradually. An RSI at support levels typically signals that a cryptocurrency is not overbought or oversold, providing a solid foundation for further gains.
The gradual rise in RSI also indicates increasing buying pressure. This can propel the price higher in the coming days and weeks.
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