⚠️ $FOLKS — Breakdown After Rejection, Bearish Short Setup 📉
Trading Plan — SHORT $FOLKS
· Entry: 5.75 – 5.95
· Target 1: 5.00
· Target 2: 4.50
· Target 3: 4.00
· Stop Loss: 6.40
Analysis
$FOLKS at **$5.782** is showing strong bearish momentum after a sharp rejection from the 24H high of $8.911. The price has collapsed over -35% from its high and is now trading near the lower end of its range, indicating sustained selling pressure.
The chart reveals a clear breakdown below previous support levels. A retest of the $5.75–$5.95 resistance zone could provide an opportunity to short before the next leg down toward $5.00 → $4.50 → $4.00**. Only a close above **$6.25 would break structure and invalidate the short setup.
FOLKSUSDT
Prep
5.361
+6.92%