​$FOGO Technical Analysis: Navigating the Retracement Phase 📉🚀

​$FOGO is currently entering a crucial technical zone. After the recent parabolic move, we are seeing a healthy "cool-off" period. For pro-traders, here is the breakdown of the current chart structure:

​1. Price Action & Support Zones

​Current Price: $0.02256 (-3.09%).

​Immediate Resistance: $0.02388—breaking this level is essential for the next leg up.

​Major Support: A strong base is forming around $0.02116. If the price sustains above this, it remains a prime "Buy the Dip" zone.

​2. Technical Indicators (RSI & Volume)

​RSI(6): 39.03. We previously saw the RSI above 80 (Overbought). A drop to 39 suggests the market is heading toward the Oversold territory, which often precedes a trend reversal.

​Volume Analysis: 24h Volume stands at 127.58M FOGO. While lower than the peak, this indicates a period of healthy consolidation before the next major breakout.

​3. The Bullish Thesis

​SVM Efficiency: Built on the Solana Virtual Machine with Firedancer's engine, achieving sub-40ms finality.

​Incentives: The 38,000,000 FOGO prize pool continues to drive liquidity and engagement.

​Pro-Trader Strategy:

✅​Entry Zone: Scale in between $0.0215 – $0.0222.

​Target: Initial target at $0.02388. A breakout leads to $0.025+.

✅​Stop Loss: Close positions if a 1H candle closes below $0.0205.

​#FOGO #TechnicalAnalysis #CryptoTrading #BinanceSquare #Write2Earn @Fogo Official