Velo Price Prediction: 2024, 2025, 2030

VELO price prediction: Key highlights

1. Primary support and resistance levels

• On the weekly chart, $0.0023 was established as the lowest support.
• The highest possible resistance level is anticipated to be around $0.0840.

2. Market sentiment

• The overall market sentiment is seen to be predominantly bullish in April 2024.

3. Predictive forecasts

• Our AI/ML predictive models have forecasted that VELO may touch an average value of $0.6 by 2028 and $18.41 by 2033.

Get insights on VELO’s future through a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

VELO technical analysis: Bulls aim for new highs

The Velo price prediction for 2024 encompasses a detailed review of its market activity over the past year. This analysis delves into the cryptocurrency’s price dynamics and market sentiment, observing how various factors influenced its trading behavior over the period.

The analysis period started with VELO encountering significant resistance at $0.0066, a level it failed to breach. This initial rejection set the tone for the following months, triggering a pronounced downturn. By mid-May, VELO had descended sharply to its lowest support at $0.0023, highlighting a bearish market sentiment and substantial selling pressure.

Despite a brief recovery attempt in June, which saw VELO climb to $0.0037, the bullish momentum proved insufficient to sustain the uptrend. The lack of enduring buyer support led to another decline, with the token revisiting the $0.0023 support level by August. 
 

This level appeared to solidify as a significant baseline for VELO, as the asset exhibited a period of stagnation, maintaining around the above price point until the end of September.
 

The market's mood shifted as October commenced. A revitalized bullish sentiment drove VELO from its lows in a steady ascent, retesting previous resistance levels. By the end of December, the token approached the $0.0066 mark once again, signaling a potential reversal of the earlier downtrend.
 

However, the new year brought with it a minor corrective pullback in January, briefly interrupting the bullish trend. Despite this, the pullback did not develop into a sustained downturn, and the bulls quickly regained control. 
 

This renewed bullish force propelled VELO through the first quarter of 2024, culminating in a break past the $0.0097 level in March and continuing the upward momentum into April.
 

By mid-April, VELO had reached a new peak resistance level at $0.0207, marking the highest price point in the analysis period. At the time of writing, the token had experienced a slight retraction from this peak, trading at $0.0199, yet still maintaining proximity to its highest valuation.
 

VELO’s growth trajectory has been impressive, with a whopping 90% appreciation in value over the past month, according to CoinMarketCap. Furthermore, the asset’s market cap has also grown by 6.49%. Velo recently announced that it has joined forces with Ausiris Gold to enhance traditional gold trading through blockchain-based financial services.
 

Considering such significant developments, if the bulls continue to rally, VELO will likely break past the peak resistance at $0.0207 within the next few weeks. A sustained rally with continued momentum also puts reaching $0.0840 on the cards for the asset.
 

On the flip side, if the bears take over, VELO will likely plummet below the $0.0097 level in the next few weeks. A continued downtrend can also lead to the token touching $0.0066 within the upcoming months.
 

VELO’s long-term growth trajectory also seems to be optimistic. Our AI/ML predictive models have forecasted VELO to touch an average value of $0.6 by 2028. If the bulls continue to thrive under pressure and the token brings forth new developments, it may surge higher to reach $18.41 by 2033.

VELO's 2024 roadmap: Key indicators to watch and trade

• The trading volume was significantly low until October. However, as the asset’s value began to recover, the volume also showed a significant recovery.
• During December, the trading volume was at its highest, showcasing a keen interest from investors. However, it waned slightly as February approached. At press time, it was lower than its previous highs but higher than the initial lows.
• Until November, the Relative Strength Index (RSI) had remained below the neutral line. It surpassed the neutral line by mid-December.
• The RSI kept spiking to surpass the overbought territory by March. At press time, it stood at 84.92, indicating that the asset was overvalued and a correction may follow soon.
• The Chaikin Money Flow (CMF) remained below the neutral line throughout the analysis. After dropping to its lowest point by July, the indicator showed recovery.
• In January, the CMF experienced another sharp drop in value. Following this, it recovered again, standing at -0.11 at press time. This signaled that there was an outflow of money from the asset.