$FIRO The chart indicates a sharp bullish rally followed by a corrective phase.
Key Observations:
• Current Price: 2.228, significantly lower than the recent high of 2.840.
• Trend: After peaking, the asset entered a downward correction, with the price now trading below the shorter moving average (yellow), signaling weakening momentum.
• Moving Averages: While the longer-term moving averages (pink and purple) are still rising, the short-term trend shows bearish pressure.
Outlook:
• The price may find support around 2.027 (previous consolidation zone).
• A break above the shorter moving average could signal a recovery, but if the bearish trend continues, further downside is possible.
Caution is advised as the asset is in a correction phase, and it’s critical to monitor support and resistance levels closely.
