Velo Price Prediction: 2024, 2025, 2030

VELO price prediction: Key highlights

1. Primary support and resistance levels

• On the weekly chart, $0.002 was established as the lowest support.
• The highest resistance can be anticipated at $0.045.

2. Market sentiment 

• The overall market sentiment has been slightly bearish in July 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms forecast VELO’s average price to be around $2 in 2030 and $80 in 2035.

Get insights on VELO’s future through a detailed 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 poised for a simmering reversal 

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.

The analysis commenced with the altcoin engulfed in a downtrend. By mid-August, consistent selling pressure compromised the lowest yearly support at $0.002. After a swift recovery by month’s end, the price stabilized near this floor until mid-October 2023. 
 

This period marked the beginning of a renewed uptrend. The asset continued to make higher highs and higher lows for the following months. Even as the broader market bled in Q2 2024, VELO reached its highest yearly resistance of $0.020 by late April. 

Remarkably, in early May, the price slightly crossed this level. AMBCrypto reported that the token outshone several other altcoins on the charts. The increase in VELO's price was attributed to heightened activity in the Asian market. Additionally, the project's integration with Solana (SOL) and the Binance Smart Chain significantly boosted the attention it received.

However, sell-offs ensued the following week as investors started profit-taking. Consecutive bearish candles painted the market red as the price depreciated to find its base at $0.007 in July. Buyers resurfaced during mid-month, elevating the token to test $0.011. At press time, it traded at $0.010.

The current resistance is critical for the future trajectory. Moving past it would give buyers the upper hand in the market. A sustained rally over the peak barrier would entail overcoming substantial selling pressure. Moreover, successfully flipping this level could set the next significant price target at $0.045, which again will be a major barrier.
 

Contrarily, if the bearish grip tightens, VELO will again plummet to $0.007. A continued downtrend can also lead to the token touching $0.005 or a downward target of $0.004.

The predictive models envision VELO’s long-term growth trajectory as optimistic. They forecast the altcoin to trade at an average price close to $2 by 2030. This number is expected to appreciate significantly by 2035, with the projected price around $80.

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

• The trading volume remained relatively low till the onset of 2024. After a substantial recovery, it receded again. A modest uptick in volume supported the following uptrend in March. However, it again followed price drops from late May, returning to its lackluster state.
• The Relative Strength Index (RSI) remained below the 50 line until early December. After a short dip, the indicator rose again by mid-month. The ascension culminated in it moving into the overbought territory by late March. 
• However, it dipped by mid-May and moved below 50 by mid-June. After a brief uptick, it retraced. The RSI stood at 49.07 at press time, indicating slight bearish conditions.
• The 50-week Exponential Moving Average (EMA) was instated as a strong resistance, as evidenced by its distance from the price. Meanwhile, the 20 EMA was flipped to support by November.
• The uptrend pushed the price over the 50 EMA in mid-April. Following this, a golden cross appeared in May. Nonetheless, the EMAs turned to resistance levels by mid-June, with a death cross forming the subsequent month. Due to the recent recovery, the candles’ proximity to the EMAs hinted at emerging buying pressure that could lead to a reversal if sustained.