๐จ FOLKS is going wild! Up 20.4% in 24H, with breakout momentum catching fire and some even calling for a target of 3.00!
But here's what's really strange: it's already pulled back 2.6% in 1H, OI is up just 0.3%, and retail traders are 3.8ร bullish. What's more, some point out that volume surged 7.3ร to $5.01 million while the price actually fell 0.71%โdon't focus only on the gains.
๐ What does this mean? When everyone is calling for a breakout, the biggest risk isn't getting the direction wrongโit's chasing at the top and becoming the last one in. Even if you get the trend right, you may not make money.
๐ฏ Key levels:
Resistance: $2.45 / $2.55 / $2.90โ$3.00
Support: $2.375 / $2.24 / $2.119
A breakout only remains valid if price holds above $2.45 on increased volume.
My take: The trend still leans bullish, but don't blindly chase higher! If the rally fails and price drops below $2.375, watch out for a retest of $2.24 or even $2.119.
Do you think FOLKS will surge toward $2.90 next, or pull back to $2.119 first? ๐
#FOLKS #breakout
But here's what's really strange: it's already pulled back 2.6% in 1H, OI is up just 0.3%, and retail traders are 3.8ร bullish. What's more, some point out that volume surged 7.3ร to $5.01 million while the price actually fell 0.71%โdon't focus only on the gains.
๐ What does this mean? When everyone is calling for a breakout, the biggest risk isn't getting the direction wrongโit's chasing at the top and becoming the last one in. Even if you get the trend right, you may not make money.
๐ฏ Key levels:
Resistance: $2.45 / $2.55 / $2.90โ$3.00
Support: $2.375 / $2.24 / $2.119
A breakout only remains valid if price holds above $2.45 on increased volume.
My take: The trend still leans bullish, but don't blindly chase higher! If the rally fails and price drops below $2.375, watch out for a retest of $2.24 or even $2.119.
Do you think FOLKS will surge toward $2.90 next, or pull back to $2.119 first? ๐
#FOLKS #breakout