$FOGO
FOGOUSDT Perp
0.02375
-7.51%
FOGOUSDT – 1H Chart Overview
Current Price: 0.02385
Timeframe: 1H
Trend Context: Corrective move inside a short-term downtrend
1️⃣ Market Structure
After reaching a local high near 0.02686, price established a lower high and continued forming lower lows, confirming bearish structure on the 1H timeframe.
Price is trading beneath the EMA50 (0.02431) and EMA100 (0.02410), both acting as dynamic resistance overhead.
2️⃣ Indicator Summary
EMA 50 & 100: Bearish alignment, capping upside attempts.
MACD: Attempting a minor bullish crossover but remains below the zero line — momentum still weak.
RSI (6/12/24): Around 45, sitting in neutral-to-bearish territory with no clear reversal signal.
Volume: Lower than the previous impulse leg — buying pressure lacks strength.
Long/Short Ratio: Shorts dominate (~66%), reflecting prevailing bearish sentiment.
3️⃣ Important Levels
Resistance Zone:
0.0243 – 0.0246 (EMA confluence + short-term supply area)
Support Zones:
0.0232
0.0227
0.0224
4️⃣ Trade Idea (Short-Term Bearish Bias)
Entry: 0.0238 – 0.0240
Stop Loss: 0.0246
Take Profit: 0.0228
Risk/Reward: Approximately 1:2
The bias stays bearish unless price secures a strong close above 0.0246 with expanding volume.
5️⃣ Possible Scenarios
Rejection at the EMA resistance area could push price toward 0.0228.
A decisive breakout and hold above 0.0246 may trigger a short-term recovery toward 0.0252–0.0258.
⚠️ Momentum remains soft. Position sizing and risk management are key.
