FOGO/USDT Short Trade Setup & Technical Analysis
$FOGO /USDT is currently trading around $0.02236 after a sharp bullish spike toward the $0.02388 high. On the 1-hour chart, price experienced a strong breakout with high volume, followed by a small pullback. This suggests short-term exhaustion after an aggressive rally. The candles near resistance show rejection, indicating potential for a corrective move.
The 7 MA remains above the 25 and 99 MA, confirming short-term bullish momentum. However, after such a vertical pump, a retracement toward the $0.02150–$0.02120 support zone is possible. If price fails to break above $0.02350 again, a short trade could be considered.
Short Trade Idea:
Entry: $0.02280–$0.02320
Target 1: $0.02180
Target 2: $0.02120
Stop Loss: Above $0.02400
Traders should watch volume closely. A decrease in buying pressure strengthens the short scenario. Always manage risk properly.
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