2026-01-19 11:26:37

FOGO has experienced a sharp decline with increased volume over the past two days, with a daily drop of over 22%. The market characteristics are very clear—high open interest combined with this kind of sell-off suggests typical long liquidation or main players offloading.

From the candlestick pattern, the price has already broken through a key support level. This is not a healthy correction; the volume-driven decline confirms a trend of selling pressure. Until clear bottom absorption signals appear, following the trend to short is the most efficient strategy.

📊 Trading reference:
→ Direction: Short
→ Entry range: 0.0270～0.0275
→ Stop loss: 0.0290 (rigid stop loss, cannot be moved)
→ Target 1: 0.0240
→ Target 2: 0.0210

The current decline is driven by strong momentum, and the market structure is confirming weakness. Wait until a bottom forms and trading volume shrinks, showing signs of accumulation, before considering reverse operations. For now, it’s best to follow the trend.

FOGO2,99%

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MetaReckt

· 15h ago

A 22% drop... that must be really painful. The brothers holding positions are probably suffering. It's true that long positions getting liquidated is a concern, but I'm more worried about a rebound crushing the shorts. Such sharp declines are often the most unpredictable. Shorting in line with the trend sounds easier, but when it comes to buying around 0.027, who can stay calm? Let's talk about bottom absorption signals when they actually appear. For now, entering now just means getting trapped. FOGO might drop further this week, but don't go all-in, friends.

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Layer2Observer

· 15h ago

A 22% increase in volume directly broke through the support, this data is indeed too straightforward... Need to see if it's genuine distribution or another round of trap trading

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ConsensusDissenter

· 15h ago

Oh my, a 22% drop—how painful must that be? Watching the main force dump the market is truly heartbreaking. Hmm, that's not right. Is this move really a distribution or just a shakeout? Feeling a bit anxious. Shorting sounds good, but I'm just worried about catching the bottom halfway up the mountain.

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MetaverseLandlady

· 15h ago

Wow, FOGO really hit hard this time, dropping 22% and breaking through my stop-loss before I even realized it.

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ProposalDetective

· 16h ago

The bearish signals are so obvious. This time, the main force is really dumping the market. We have to follow the trend. Why did FOGO drop so sharply this wave? A 22% decline is no joke. Support levels have been broken, and there's no signal at the bottom. Going short now would be a complete loss. What are we waiting for? Is 0.0240 the bottom? It feels like it could go even lower. It depends on how trading volume performs. I've seen margin calls for bulls happen a few times. The risk this time is really high.

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