VELO Price Faces Resistance at EMA Ribbon: Fibonacci Levels Offer Key Insights

VELO price is currently consolidating near $0.0147, facing resistance at the EMA ribbon while navigating the weekly consolidation zone. The 0.236 Fibonacci retracement level at $0.0185 presents a crucial support level. A breakout above this level would signal the end of corrective wave (B) and pave the way for an impulsive phase (C), potentially reaching the shaded resistance zone between $0.40 and $0.50. Meanwhile, VELO’s price action is being closely watched as it navigates near the EMA ribbon, with key support levels including $0.0118 at $0.382 and a deeper level at $0.0091 (50%).