2026-01-20 19:22:35

FOGO's recent downward trend is indeed worth caution. From a high of 0.10773 to the current 0.03026, the decline exceeds 70%. The recent rebound seems to have eased somewhat, but from a daily chart perspective, this is only a short-term correction within a downward trend. The overhead trapped positions remain large, and selling pressure could re-emerge at any time. Many investors who bought in at high levels are now deeply trapped, and as the rebound reaches this level, many are starting to cut losses and admit defeat. From a technical standpoint, in this continuous decline pattern, support levels are not obvious, and the downward space still exists. In the short term, no clear reversal signals are visible, and the bearish trend still dominates. To go long, one needs to wait for more confirmed signs of a trend reversal.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

16 Likes

Reward
16
6
Repost
Share

Comment

0/400

GateUser-9ad11037

· 15h ago

70% decline... My goodness, how many people are going to be trapped? It's probably time to cut losses; a rebound is a chance to escape. Support levels are gone, and that's the most terrifying part. Wait, is this rebound reliable? Feels like it's going to crash again. Friends who bought at high levels... condolences.

View OriginalReply0

LiquidatorFlash

· 15h ago

0.03026? It really dropped to this level. With such a large trapped position, there will inevitably be repeated sell-offs. Let's wait for a signal of a bottoming out.

View OriginalReply0

FlashLoanLarry

· 15h ago

Seventy percent decline... This FOGO is really a harvesting machine for cutting leeks. --- It's the same story of buying at high levels, a common cliché. --- The support level is not obvious, which is the most terrifying part; it could drop anywhere next. --- Waiting for a reversal signal? Probably have to wait until next year, haha. --- Looking at the volume of these trapped positions, a rebound is just a window for selling. --- No hope in the short term, I've already given up. --- The price of 0.03 is a bit painful; how did friends who bought at 0.10 survive? --- Shorts still dominate, and they want to go long? Isn't that just asking for trouble? --- Selling pressure can reappear at any time... a perfect example of "a crash at any moment." --- This technical analysis is starting to scare me.

View OriginalReply0

SerLiquidated

· 15h ago

Here comes to cut our leeks again; this thing should have been seen through long ago. A 70% drop and then a rebound? Laughable. With such a large trapped position, it will eventually crash. FOGO is truly beyond saving this time. My friend bought in at a high price and is now suffering heavy losses. The rebound is just an illusion; I believe further decline is coming. Wait, could there be another rebound opportunity... Never mind, better to stay on the sidelines. This support level is virtually meaningless; I wouldn't be surprised if it drops to a penny. There are many who have cut their losses; now entering is just taking over as the bagholder.

View OriginalReply0

ZenChainWalker

· 15h ago

Seventy percent decline... I'm almost out of pants --- Thinking of buying the dip on a rebound? Wake up, this is the last chance to cut losses --- Where is the support level? Feels like it's all air --- Condolences to those who bought at high levels, wait for the signals --- With such strong selling pressure, who dares to buy in --- The technicals are completely rotten, better to lie flat and observe --- Cut losses or hold on tight, it's really a choice --- This rebound can't fool me at all, it's still falling --- The bears still need to keep suppressing, don't think about turning around

View OriginalReply0

BottomMisser

· 15h ago

70% decline... I told you not to chase the highs, now it's better, right? It's the same support level and reversal signals again. Are they really useful? Brothers and sisters who bought at high levels, should you cut your losses or not? That's the question. Waiting for a sign of a bottom? You might have to wait until the Year of the Monkey and the Horse.

View OriginalReply0