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[$FOGO Signal] Short - Volume breakout downward
$FOGO Price drops sharply with a volume increase of -8.10%, open interest remains high, indicating a main force distribution pattern.
🎯 Direction: Short (Short)
🎯 Entry: 0.0345 - 0.0350
🛑 Stop Loss: 0.0365 (Rigid Stop Loss)
🚀 Target 1: 0.0320
🚀 Target 2: 0.0300
$FOGO While the price is falling with increased volume, the open interest reaches as high as 365 million. This is not a healthy long liquidation squeeze, but a typical active selling pressure pushing down the price. The price action shows heavy selling pressure above, lacking effective buying absorption, and any rebound on the lower time frame appears weak. The current price is a short-term pause after the bearish momentum release, with a high probability of further decline.
Trade 👇 $FOGO
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