The VELO price is facing a critical moment, testing key support levels after a recent decline from December 2023 highs. The chart shows higher lows and respect for long-term trendline support. Technical indicators suggest potential reversal setups with MACD divergence signals indicating weakening bearish pressure. VELO’s price consolidation near the wedge support zone is expected to trigger a breakout move, with targets potentially reaching $0.67. This scenario is supported by analysts who note hidden bullish divergence between price action and the MACD on the daily chart. Analysts believe this pattern often precedes trend reversals, while another analyst, Solberg Invest, observed a symmetrical wedge tightening before a potential break out.