VELVET deployer-linked wallet transferred millions in tokens to exchanges just days before the token crashed 80%, according to on-chain data from @bubblemaps.

Price sits at $0.32 inside Bollinger Bands with upper resistance at $0.69 and lower support at $0.16. The structure remains bearish as price trades below EMA50 resistance at $0.49 while EMA200 at $0.29 offers the next concrete support. MACD death cross at -0.1 confirms trend weakness and neutral RSI at 40.08 leaves room for continuation lower before any relief. Traders revising VELVET price prediction models now factor in this distribution pattern amid crypto market crash concerns.