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The Velo price pumped 6% in the past 24 hours to trade at $0.01318 as of 1:22 a.m. EST, with trading volume soaring 97% to $22.6 million.
Velo Price Support Offering Room For A Recovery
The VELO price has been trading within a long-term consolidation range, forming a solid support base near the $0.01100 level, which has been tested multiple times since early 2024.
This Velo price’s current zone has acted as a demand region, where buyers consistently step in, preventing further downside, as GeckoTerminal data shows. The recent bounce from this accumulation zone marks a potential short-term bottom.
The Relative Strength Index (RSI) is currently at 46.68, indicating a neutral stance. While not yet in bullish territory (above 50), it’s rebounding from near-oversold levels and trending upward, which could lead to a bullish momentum shift
Meanwhile, the 50-period Simple Moving Average (SMA) on the 3-day chart is currently positioned at $0.01718, sitting above the price of Velo and acting as a resistance level.
Furthermore, the Moving Average Convergence Divergence (MACD) is showing a mild bullish crossover, with the blue MACD line slightly above the orange signal line.
The histogram has started turning green, which is also an early signal of momentum shifting from bearish to bullish.
VELO Price Hints At A 61% Surge
VELO appears to be in the early stages of a bullish reversal. The strong support zone near $0.01100 has held well over the past several months, and indicators are aligning for a potential upward move.
Should the price of VELO break above the $0.01500 minor resistance and the 50-period SMA ($0.01718), a rally toward $0.02193 is likely, which corresponds with a 61.77% gain and the 0.618 Fibonacci retracement zone.
However, a breakdown below the $0.011 support would invalidate this bullish outlook and may lead to a retest of prior lows around the $0.00868 mark.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO called Snorter Token (SNORT).
According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, SNORT could soar 10X on launch.
Snorter Token Presale Garners Over $243K In Two Days – Buy And Stake For 1,223% APY
A new Telegram trading bot, Snorter, garnered over $150K in the first 24 hours after its presale launched, and has now pushed the total funds raised to over $243K.
Snorter is the most affordable and advanced way to trade on Solana, helping users maximize their bull market gains.
Unlike browser-based tools, Snorter runs directly inside Telegram, allowing users to perform sub-second swaps, automate sniping, and track portfolios in real time.
The bot is entering a space where most users currently favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions, according to Dune.
One of Snorter’s many competitive advantages is its own fee structure, which offers token holders a discount, reducing trading fees from 1.5% to 0.85%. This makes Snorter cheaper than BonkBot, Maestro, Trojan, Banana Gun, SOL Trading Bot, and the rest.
🚨 Snorter Bot is now live in Best Wallet! 🚨@SnorterToken is building a powerful multi-chain Telegram trading bot designed for speed, transparency, and automation.
Snorter Bot will give users the ability to access lightning-fast trades and real-time execution directly from… pic.twitter.com/EqkWxGMcQy
— Best Wallet (@BestWalletHQ) May 28, 2025
In addition to its trading features, annual staking rewards currently sit at 1,223%, which decreases as more investors join.
Tokens can be bought at a discounted price of $0.0935 with SOL, ETH, BNB, or a bank card, and staked directly on the official website.
Interested investors should buy before the next scheduled price increase in less than 2 hours.
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