I don't post technical analysis often. But what I'm seeing on $FOGO right now is too clean to ignore.
Here's my full breakdown of the setup forming right now.
š„ WHAT THE CHART IS TELLING ME:
$FOGO hit its all-time low of $0.01998 on February 11. Nine days later, it's trading at $0.0254 ā a confirmed bounce of +26.7% from the floor with accelerating volume.
That's not a dead cat bounce. Dead cat bounces happen on low volume with weak follow-through. This bounce has volume up 60% in 24 hours, CMC ranking jumping 87 positions in 48 hours, and Futures volume hitting $36.8M versus spot volume of $11.8M. Traders with real money are positioning for the next leg up.
š THE LEVELS THAT MATTER RIGHT NOW:
First resistance at $0.028 ā this is the line in the sand. A daily close above this level with sustained volume changes the entire technical narrative from recovery bounce to confirmed reversal.
Second target at $0.033 ā previous distribution zone. Breaking here opens path to $0.042 where the descending moving average sits.
Support at $0.022 must hold. Losing this level with volume sends price back to ATL territory at $0.020. Below $0.020 is uncharted historical territory with no mapped support.
ā” WHY FUNDAMENTALS SUPPORT THE TECHNICAL SETUP:
Open Interest stable at $11.7M ā no overleveraged longs waiting to get liquidated. Clean futures market means the next move up won't be immediately crushed by cascading liquidations.
No unlock until September 26, 2026 ā seven months of zero supply pressure from team, advisors or institutional investors. Every seller right now is a voluntary seller, not a forced one.
Airdrop portal closes April 15 and burns unclaimed tokens permanently ā automatic supply reduction without any action required from holders.
GSR and Selini Capital committed to liquidity post-launch. Ex-Citadel and ex-Jump Crypto team delivering 40ms blocks and 1.3 second finality every single day.
šÆ THE SETUP IN ONE LINE:
Higher low confirmed. Volume accelerating. Smart money positioned. Supply tightening. Next target $0.028.
Click $FOGO and trade on Binance NOW! @Fogo Official fogo #fogo šš°ā”