📉 $FOLKS – Short Setup
Trade Idea: Bearish
Entry Zone: $16.55 – $16.80
Stop Loss: $17.85
Profit Targets: $16.08 → $15.50
Market Bias:
If price fails to stay above the $16.58 area (20 EMA), selling pressure is expected to increase, opening the door for a move back toward the $16.08 low near the 50 EMA. A decisive breakdown below that level could extend losses toward the $15.20 zone.
Key Levels:
The former peak around $17.40 has turned into a strong overhead resistance, repeatedly capping price after the breakout attempt. On the downside, $16.58 (20 EMA) is the nearest support to watch.
Indicators:
RSI (6) currently sits near 35.4, suggesting momentum remains weak with additional downside room before reaching oversold conditions—supporting the bearish correction scenario.
ZECUSDT
Perp
456.93
+1.01%
FOLKSUSDT
Perp
14.58
+2.47%
PIPPINUSDT
Perp
0.34115
+5.95%
