🚨 FOLKS is going wild! Up 26.4% in 24H, with another 8.7% surge in 1H, and trading volume up 3.9×!
But here’s what’s really strange: OI is up 2.9%, while the retail long/short ratio is only 2.0× and interest is cooling off; 4-hour chatter is bearish, with 8 mentions but no KOLs.
📊 What does this mean? The price is still climbing, but some traders are already preparing to short near the highs. You can get the direction right, but chase after it spikes to 2.438 and you could end up holding the bag.
🎯 Key levels:
Resistance: 2.36 / 2.42 / 2.438
Support: 2.25 / 2.23 / 2.1966
It only counts as a continuation of the trend if price breaks above resistance on strong volume and holds. A drop below 2.23 means the structure needs to be reassessed.
My take: The trend still leans bullish, but after a 26% gain in 24H, don’t blindly chase the highs. If the rally fails and price drops below 2.23, watch out for a long squeeze; holding 2.25 is what could give it another shot at the highs.
Do you think FOLKS will break through 2.438 next, or pull back to 2.16? 👇
#FOLKS #CryptoTrading
But here’s what’s really strange: OI is up 2.9%, while the retail long/short ratio is only 2.0× and interest is cooling off; 4-hour chatter is bearish, with 8 mentions but no KOLs.
📊 What does this mean? The price is still climbing, but some traders are already preparing to short near the highs. You can get the direction right, but chase after it spikes to 2.438 and you could end up holding the bag.
🎯 Key levels:
Resistance: 2.36 / 2.42 / 2.438
Support: 2.25 / 2.23 / 2.1966
It only counts as a continuation of the trend if price breaks above resistance on strong volume and holds. A drop below 2.23 means the structure needs to be reassessed.
My take: The trend still leans bullish, but after a 26% gain in 24H, don’t blindly chase the highs. If the rally fails and price drops below 2.23, watch out for a long squeeze; holding 2.25 is what could give it another shot at the highs.
Do you think FOLKS will break through 2.438 next, or pull back to 2.16? 👇
#FOLKS #CryptoTrading