VELVET Soars 135% After Partnership with Aerodrome Finance

The price of VELVET (VELVET) has skyrocketed after its partnership with Aerodrome Finance, which will enable users to access deepened liquidity pools and tighter pricing through Base trades.

In the last 24 hours, VELVET's price has rallied by 135%, with a 382% surge in daily trading volume. This recovery came after the altcoin corrected by 84% in two days, falling from $1.92 to $0.30.

According to technical analysis, this crash did not break VELVET's swing structure on the 1-day chart. Instead, the price briefly fell below the 78.6% retracement level at $0.483 before reclaiming it as support.

The Awesome Oscillator indicates that momentum has remained bullish despite the deep correction, and selling volume was not strong either, with the OBV not falling too far from its high in June.