Velo potential for huge impulse (.135)
Velo/Tether GATEIO:VELOUSDT
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.
