$FOGO : High-Speed L1 Consolidation Near Local Bottoms 🚀

$FOGO -USDT is currently stabilizing on the 1H chart after a volatile week following its mainnet launch. Trading around 0.02946, the asset is attempting to find a sustainable floor after cooling off from its all-time high of 0.06326 reached earlier this month.

🎯 Trade Setup

* Buy Zone: 0.02720 - 0.02900 (Near the recently established local support)

* Take Profit Targets: 0.03130 | 0.03500 | 0.04000

* Stop Loss: 0.02650 (Below the recent low of 0.02712)

* Invalidation Point: 1H candle close below 0.02710

Bias: Bullish. Despite recent selling pressure from airdrop claims, the project continues to attract institutional interest from major players like GSR and Selini Capital. As the initial sell-off from the Jan 15th launch begins to subside, the focus is shifting to the network's ultra-low latency capabilities, suggesting a potential recovery rally toward previous consolidation levels.