$FOLKS/USDT Perp - Bullish Continuation Setup
Analyzing the FOLKS perpetual contract, we see a consolidation after a strong +2.78% move to $2.37. Price is currently testing the MA60 ($2.396), which now acts as immediate resistance. A decisive break above could signal the next leg up.
Key Levels:
Support: $2.295 (24h Low) / $2.36 (Mark Price Zone)
Resistance: $2.396 (MA60) / $2.494 (24h High)
Trade Idea (Long):
Entry Zone: $2.360 - $2.375 (Near current price on a pullback)
Stop Loss (SL): $2.285 (Below the 24h Low)
Take Profit Targets (TP):
TP1: $2.45 (Initial resistance)
TP2: $2.494 (24h High Retest)
TP3: $2.55 (Extension beyond range)
Rationale: Price holding above the Mark Price and the significant 24h volume (5.56M USDT) suggest accumulation. The MA60 break is the key confirmation for bullish momentum.
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