$FWOG @solfwog #TA Technical Analysis Update: Tuesday July 30th 2024
The chart is absolutely textbook, ending the first 24 hours with a high of 30mil and consolidation around 13-15m mark at about a ~60% correction from ATH.
As expected, the 0.618 fib retracement level at $0.0127 is proving to be strong support.
Although this was analyzed on a 15min timeframe, volume is on a downtrend, but price is holding which suggests that the current corrective move is coming to an end.
A fib extension analysis shows that we have targets to the upside of $0.04447 and 0.06418 (3x and 4.5x respectively) from a current price of $0.014
We rate the near-term outlook on
$FWOG extremely bullish, expecting it to reach possible targets of 43 and 64 million dollar market caps on the next leg up.