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Kasonso-Cryptography
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FOGO Price Action Showing Recovery Signs: Valentine’s Day Hope for Bulls?
Right now FOGO/USDT $FOGO is trading around $0.0230, up about +3.7% on the day. If you look careful on the 1D chart, something is slowly changing. The market was falling for many days, lower highs and lower lows, very clear downtrend structure. But now, the selling pressure is not strong like before. The candles are getting smaller, and buyers start stepping in near $0.0220 – $0.0225 zone.
This area around $0.022 looks like strong support. Price touch there multiple times and refuse to break lower. That is not random. When price test same level many times and still bounce, it means buyers defending it seriously.
Previously, FOGO was trading above $0.040 and even spiked near $0.050. After that, heavy correction happened. Many weak hands panic sell. From $0.040 down to $0.022 is almost 45% drop. That kind of correction usually shake out impatient traders. Now what we see is different behavior.
On the recent candles, we can notice small green candles forming after a long red sequence. That shows momentum slowing down. Also the moving averages (short MA and mid MA) are getting closer to price. When price start holding above short MA, it can be first early signal of trend reversal.
Let us give example.
If FOGO breaks above $0.025 with strong volume, next resistance can be around $0.028 $0.030 zone. Why? Because that is previous breakdown area where sellers pushed price strongly. If bulls reclaim that level, market psychology change immediately. Traders who sold there may re-enter, creating short squeeze type movement.
Valentine’s Day is symbol of love and hope. Sometimes market also follow sentiment cycles. After long bleeding, market need recovery moment. We are seeing small higher lows forming on lower timeframe. That is early bullish structure. Not confirmed yet, but it is building.
Important levels to watch:
Support: $0.0220
Immediate resistance: $0.0250
Major resistance: $0.0300
If price close daily candle above $0.0255, I expect momentum to increase. RSI (if checked) likely coming from oversold region, which also support bounce idea.
However, we must not be blind bullish. If $0.022 breaks strongly with volume, then next downside could be $0.018 area. Risk management is key. Smart traders wait confirmation, not just hope.
But honestly, this current structure is looking like accumulation phase. Big players don’t buy in one candle. They accumulate slowly when fear is high. Now fear already high after long drop.
So yes, Valentine’s Day may bring some love back to FOGO holders. The market is showing early recovery signals. If bulls step in with volume, we can anticipate bullish move in near future.
Trade safe, watch the levels, and don’t marry your position let the chart confirm the love story.
#fogo @fogo
This area around $0.022 looks like strong support. Price touch there multiple times and refuse to break lower. That is not random. When price test same level many times and still bounce, it means buyers defending it seriously.
Previously, FOGO was trading above $0.040 and even spiked near $0.050. After that, heavy correction happened. Many weak hands panic sell. From $0.040 down to $0.022 is almost 45% drop. That kind of correction usually shake out impatient traders. Now what we see is different behavior.
On the recent candles, we can notice small green candles forming after a long red sequence. That shows momentum slowing down. Also the moving averages (short MA and mid MA) are getting closer to price. When price start holding above short MA, it can be first early signal of trend reversal.
Let us give example.
If FOGO breaks above $0.025 with strong volume, next resistance can be around $0.028 $0.030 zone. Why? Because that is previous breakdown area where sellers pushed price strongly. If bulls reclaim that level, market psychology change immediately. Traders who sold there may re-enter, creating short squeeze type movement.
Valentine’s Day is symbol of love and hope. Sometimes market also follow sentiment cycles. After long bleeding, market need recovery moment. We are seeing small higher lows forming on lower timeframe. That is early bullish structure. Not confirmed yet, but it is building.
Important levels to watch:
Support: $0.0220
Immediate resistance: $0.0250
Major resistance: $0.0300
If price close daily candle above $0.0255, I expect momentum to increase. RSI (if checked) likely coming from oversold region, which also support bounce idea.
However, we must not be blind bullish. If $0.022 breaks strongly with volume, then next downside could be $0.018 area. Risk management is key. Smart traders wait confirmation, not just hope.
But honestly, this current structure is looking like accumulation phase. Big players don’t buy in one candle. They accumulate slowly when fear is high. Now fear already high after long drop.
So yes, Valentine’s Day may bring some love back to FOGO holders. The market is showing early recovery signals. If bulls step in with volume, we can anticipate bullish move in near future.
Trade safe, watch the levels, and don’t marry your position let the chart confirm the love story.
#fogo @fogo
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