Velvet Price Prediction: After a 240% Rally, Can VELVET Break Above $0.39?

• Velvet holds above key EMAs as buyers defend bullish structure after 240% surge
• Open interest jumps to $54M as traders increase exposure during rally phase
• Positive spot netflows signal fresh demand as Velvet eyes higher levels ahead

Velvet (VELVET) continues to attract significant market attention after posting one of the strongest weekly performances in the cryptocurrency market. The token climbed more than 240% over the past seven days and gained nearly 18% in the last 24 hours, pushing its market capitalization above $131 million. 

While the rally has slowed following a sharp rejection near recent highs, technical indicators and derivatives data suggest that traders remain actively engaged as they assess the next direction for price action.

Bullish Trend Remains Intact Despite Consolidation

VELVET recently surged from below $0.10 to a peak near $0.3939 be…

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