🚀 $FOLKS
PUMPING +15% – DEAD CAT BOUNCE OR TREND REVERSAL? 🚀
$FOLKS is making noise with a +15.21% surge today, but let's look beyond the green candle. This chart tells a more complex story.
📊 The Technical Reality Check:
· Massive Range: Trading between $3.81 - $6.117 (over 60% intraday volatility!)
· Overbought Signal: STOCH RSI at 98.15 – extremely stretched
· Moving Average Conflict: Price above MA(7) but still well below MA(99) at $13.43
· MACD Hinting at Momentum Shift: Histogram turning positive
🎯 Key Levels to Watch:
· Resistance: $6.117 (24h high) – break this and we could see continuation
· Support: $4.65 (MA7) – hold here for short-term bullish structure
· Critical Support: $3.81 – lose this and the pump might be over
⚡ Trading This Setup:
· Aggressive: Long with tight stop below $4.60, target $6+
· Cautious: Wait for pullback to $4.70-4.90 zone
· Risk-Aware: Avoid – overbought conditions + high volatility = danger
👇 What's Your Call?
· Riding the momentum 🚀
· Waiting for a pullback ⏳
· This looks like a trap 🎣
#FOLKS #Trading #TechnicalAnalysis #BinanceSquare
Not financial advice. High-risk asset – trade with extreme caution and always use stops!
