#fogo $FOGO

FOGO Market Update: Momentum Rising, But Smart Money Remains Cautious

FOGO has significantly risen nearly 9%, currently priced at $0.02282, firmly above EMA‑7, 25, and 99, with the price approaching the resistance level of $0.02308 (near the upper Bollinger Band). Short-term indicators show strong momentum — RSI‑6 has reached the overbought zone at 78.87, and MACD has formed a bullish crossover, indicating active short-term buying. Trading volume has also noticeably increased, with a transaction amount of $449K in the past hour and a net inflow of $1.03M, primarily driven by aggressive market orders. Retail enthusiasm is rapidly warming up, spurred by Binance's 38 million FOGO trading competition, the Simple Earn initiative, and increased community exposure.

However, there are clear market divergences. Whales are selling off $482K, while large holders have a short position of 68.8 million FOGO around $0.02307, indicating that institutions are remaining cautious before the key resistance level. Current short-term positioning shows 184 short whale positions against 79 long whale positions, with “smart money” clearly leaning defensive.

If FOGO can break through and hold above $0.02308, it may trigger short covering and a short squeeze; conversely, if it fails to break through, the price may retrace to the support level of $0.0230, and if selling pressure increases, the decline could reach 10–15%. Momentum is strong, but the battle for resistance levels will determine the next price action.

@Fogo Official $FOGO #FOGOUSDT