Velo/TetherLong
Velo potential for huge impulse (.135)
Fundamentals: Monthly token burn of 2B & integration in to new veDAO project.
Velo is ranging within a corrective ABC triangle. The top of the triangle is at ~.105 and the bottom is ~.037. TA tells us a breakout of the triangle can expect an impulse equaling the height of the triangle (.105-.037 =.068). .068 impulse at the triangle breakout point of .065 would take the price to the daily 200 EMA at ~.135 which coincides with the 3.272 extension fib of the last impulse on 04/15. Low liquidity and a long downtrend could lead this impulse to occur very quickly. Beyond the move to .135 there is potential for more upside to the .23 and .45 price.
Velo is ranging within a corrective ABC triangle. The top of the triangle is at ~.105 and the bottom is ~.037. TA tells us a breakout of the triangle can expect an impulse equaling the height of the triangle (.105-.037 =.068). .068 impulse at the triangle breakout point of .065 would take the price to the daily 200 EMA at ~.135 which coincides with the 3.272 extension fib of the last impulse on 04/15. Low liquidity and a long downtrend could lead this impulse to occur very quickly. Beyond the move to .135 there is potential for more upside to the .23 and .45 price.
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