Technical analysis by Zorroreny about Symbol VELO: Buy recommendation (4/16/2025)

VELO dropping out of rising wedge. I expect one more capitulation dip, at least test of 2nd support line at fibb 0.236 range if not slightly bellow it. Similar move to one that XRP did. Once we do that we are ready to start next leg up which will lead to test of ATH range but can very well also push to fibb 1.272 extension.Still believe we will get one more capitulation dip to test fibb 0.236. That should be buy the dip, grow the bags opportunity. Longterm plan remains - test of ATH with potential wick to fibb 1.272 extension.