Figma Drops 4.42% After 16.83% Rally As Resistance Holds At 71.50

Figma (FIG) declined 4.42% during the most recent session, closing at 67.94 after an intraday high of 70.79 and low of 67.1481, following a significant 16.83% surge the prior day.
Candlestick Theory
Recent candlestick patterns reveal critical price behavior. The 2025-10-08 session formed a decisive bullish marubozu with minimal upper shadow (open near low, close near high) on elevated volume, signaling strong buying momentum. However, 2025-10-09 printed a bearish belt hold line, opening near 70.79 and closing near its low (67.94), indicating rejection at the $71 psychological resistance. Key support emerges at $62.50 (10-08 low), while resistance solidifies at $71.50 (recent swing high). The failed retest of the $71.50 ceiling suggests weakening upside pressure.
Moving Average Theory
The 50-day moving average (approximated at 68) caps upside momentum, with the recent close below this level reinforcing resistance. Meanwhile, the 20-day MA (approximately 58) slopes upward beneath prices, reflecting improving short-term momentum. Notably, the 100-day and 200-day MAs remain above current prices near 75-80, sustaining their bearish orientation. Conclusively, the breach of the 50-day MA after 2025-10-08’s transient breakout signals unresolved medium-term overhead supply.
MACD & KDJ Indicators
The MACD likely generated a bullish crossover during the early October rally but remains sub-zero, reflecting residual bearish energy in the larger trend. KDJ metrics entered overbought territory (K/D >80) after the 2025-10-08 surge, with the subsequent pullback causing K/D to dip below 80 – a typical reaction following extreme readings. While no bearish crossover is yet evident in KDJ, waning upward momentum aligns with the candlestick rejection at resistance.
Bollinger Bands
Bollinger bandwidth expanded sharply after 2025-10-08’s breakout, signaling increased volatility. The price breached the upper band (approx. 70) intraday on 2025-10-08 but closed back within the bands. The immediate retreat to the middle band (20-DMA near 68) on 2025-10-09 suggests normalization after an overheated move. Continued interaction with the middle band would indicate consolidation, while a breakdown could renew downside volatility.
Volume-Price Relationship
The conviction behind the 16.83% surge on 2025-10-08 was validated by the year’s highest volume (27.3M shares). Conversely, the 4.42% pullback on 2025-10-09 occurred on approximately 60% lower volume (11.3M), suggesting corrective profit-taking rather than aggressive distribution. Volume profile highlights $50-55 as high-volume support and $70-72 as resistance. This volume divergence implies underlying accumulation despite the retracement.
Relative Strength Index (RSI)
Based on 14-period calculation, RSI likely surged above 70 during 2025-10-08’s rally, entering overbought territory. The subsequent decline pushed RSI toward neutral (est. 55-60). While the indicator shows no negative divergence relative to price peaks, the retreat from overbought aligns with typical consolidation behavior. Traders should note that RSI readings >70 during strong recoveries can persist before reversals, warranting confirmation from other tools.
Fibonacci Retracement
Applying Fibonacci to the downtrend from the 2025-08-12 peak ($90.69) to the 2025-09-11 trough ($51.04) reveals critical levels. The recent rally peaked at $71.08 – precisely at the 50% retracement ($70.86). This technical magnet triggered the subsequent pullback, with the price now testing the 38.2% level ($66.19) for support. A sustained hold above $66.19 could support another attempt at $70.86, while failure exposes the 23.6% level ($60.39). The confluence of the 50% Fib and the $71.50 resistance proved formidable.
Conclusion
Technical confluence centers on the $66-68 zone (38.2% Fib and 20-DMA/50-DMA confluence) as critical short-term support. The rejection at $71.50 resistance (50% Fib + candlestick resistance + MA barrier) appears technically justified amid overbought oscillators and exhausted momentum. Volume divergence suggests sellers lack conviction, but sustained trade below the 50-DMA and 38.2% Fib would risk deeper retracement to $60.39. While the overall trend remains bearish above the 200-DMA, short-term structure hinges on the defense of $66 support for potential consolidation before further directional conviction.