📉 #Folks — Short Setup Analysis
🔹 Trading Plan (Short Position)
Entry Zone: $16.550 – $16.800
FOLKS
Alpha
14.43
-9.99%
Stop-Loss (SL): $17.850
Take-Profit (TP) Targets:
• TP1: $16.084
• TP2: $15.500
🔹 Market Outlook
Price is currently testing the EMA 20 at $16.583.
If price loses this EMA, momentum likely shifts downward toward the $16.084 low,
which aligns with the EMA 50.
A breakdown below $16.084 could open the door to a deeper correction toward the $15.200 region, a key liquidity zone.
🔹 Key Levels
Major Resistance:
• $17.400 — The previous swing high acting as a strong dynamic ceiling.
It has repeatedly rejected upward attempts after the initial breakout.
PIPPINUSDT
Perp
0.3188
-11.47%