📉 FOGO/USDT: Are we catching a reversal or a "falling knife"?

On the 4-hour timeframe, FOGO shows signs of local fading of the downtrend, but the situation remains tense. Let's break down the key factors:

1. Technical picture:

The price is squeezed below EMA 7 ($0.01725). To confirm a long, it is important to see a close above this level and further movement towards EMA 25 ($0.0180).

The MACD indicator is starting to show weakness in bears, but there is still no clear buy signal (crossing of lines).

2. Glass analysis (Order Book):

Caution! A strong imbalance is observed: over 90% of the volume is concentrated in sell orders (Asks). Buyers are not in a hurry to buy the offer, which puts pressure on the price.

📍 Trading plan:

Support: Local low at $0.01655. This is a critical mark. If the price goes below — the long idea is canceled.

Entry: Aggressively — from the current with a short stop; Conservatively — after breaking and retesting $0.0175.

Targets: $0.0180 and the psychological level $0.02 (where large limit sell orders are placed).

Conclusion: The position looks interesting for a speculative bounce, but low liquidity in support (Bids) requires mandatory use of stop-losses. 🛡️

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