🔥 $FOGO Update — Bullish Structure Intact, Short-Term Overextension
$FOGO continues to trade within a clear bullish trend, though price is showing signs of short-term exhaustion near resistance.
On the 1H timeframe, the latest candle closed as a small bearish pin bar near the daily high at 0.03864, hinting at potential rejection at this level. This comes after a strong 4H bullish expansion of +7.62%, followed by consolidation over the last 1–2 hours — a typical pause after momentum-driven moves.
Key Levels:
• 🟢 Support: 0.03595 / 0.03515 (MA20)
• 🔴 Resistance: 0.03938
Flow & Positioning Insight:
Perpetual markets are showing net outflows (-648K USDT on 1H, -851K USDT on 6H), suggesting profit-taking from leveraged traders. In contrast, the spot market continues to see inflows (+195K on 1H, +1.67M on 6H), pointing to ongoing spot accumulation rather than distribution. This divergence supports the broader bullish bias despite near-term cooling.
📈 Long Trade Plan — $FOGO
Preferred Entry:
• Pullback into 0.0359 – 0.0362 support zone
• Look for bullish reversal confirmation (hammer / strong close with volume expansion)
Aggressive Entry:
• Break and acceptance above 0.0386 with strong volume
🛑 Stop-Loss:
• 0.0348 (for entries near 0.0361)
🎯 Take-Profit Targets:
• TP1: 0.0394 (key resistance)
• TP2: 0.0405 (next resistance)
As long as support holds, this move looks like consolidation within an uptrend, not a reversal.
👇 Support me — click below to trade
Cheers 🍻
