🚀 FOLKS/USDT: TESTING KEY MOVING AVERAGE SUPPORT — BOUNCE OR BREAK? 🚀
Traders, FOLKSUSDT is at a critical inflection point on the 4-hour chart. After a sharp -8.64% drop, price is now wrestling with major moving average support. This could be the make-or-break moment for the next directional move.
📉 CHART BREAKDOWN:
· Current price: 14.260, very close to the Mark Price of 14.257.
· MA(99) at 14.041 is the primary support to watch — a major dynamic level that has previously held strong.
· MA(7) at 14.196 is acting as immediate resistance, while MA(25) at 14.838 looms above as the next key hurdle.
· Volume is down compared to its moving averages (Vol MA(5): 88,652), suggesting the sell-off may be exhausting.
🎯 PROPOSED SETUP:
We’re looking for aconfluent bounce near the MA(99) for a potential reversal trade.
Entry Zone: 14.050 – 14.40
A limit order near the MA(99) support, allowing for slight wicks below.
Stop Loss: 13.850
Placed below the MA(99) and recent structure to avoid being taken out on a false breakdown.
Take Profit Targets:
TP1: 14.650 (initial resistance & partial profit)
TP2: 14.950 (under MA(25) resistance)
TP3: 15.500+ (toward recent highs near 16.796)
⚖️ RISK MANAGEMENT:
Position size carefully.This is a counter-trend setup aiming to catch a reversal at a major support. If MA(99) breaks convincingly, the bullish thesis is invalidated.
⚠️ DISCLAIMER:
This is not financial advice. Cryptocurrency trading is extremely risky. You could lose your entire capital. Do your own research and trade responsibly.
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