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$FET / Is the Downside Over or Is $0.113 Next Target?
$FET has experienced a brutal sell-off from its high of 0.6170 and is now trading at $0.2243. The price action is compressing near the lows, just below the 7-period Moving Average. This is a critical accumulation point: will buyers finally step in to reverse the trend, or will sellers push for a final capitulation toward the low of 0.1130?
📊 Technical Outlook:
The technical picture is bearish, but showing early signs of potential momentum loss for sellers. The price is trading below all major MAs.
Current Price: $0.2243 (-0.04% in 24h).
Key Resistance MAs: The 7MA ($0.2324) immediate resistance. The 25MA ($0.2664) is firm overhead resistance.
MACD: The indicator is close to a bearish-to-bullish flip. The DIF (-0.0520) is now above the DEA (-0.0593), and the histogram is turning positive ($0.0074). This suggests selling momentum has stalled and a short-term bounce may be imminent.
Key Support: The recent low at $0.2013.
📈 Trade Setup (Neutral/Bounce Bias):
🚀 Long Zone: $0.200 – $0.220 (Buying dips toward the recent low with tight risk management).
🎯 Targets (For Bounce):
TP1: $0.2324 (7MA/Immediate Test).
TP2: $0.2664 (25MA/Key Resistance).
TP3: $0.3224 (Horizontal Structure Retest).
🛑 Stop-Loss: $0.1990 (A 4-hour close below the recent low of 0.2013 would confirm continuation to the downside).
FET's most critical condition is the defense of the $0.2013 low. A clean break and hold above the $0.2664 (25MA) is the minimum required to suggest a sustained trend reversal. If the 0.2013 low is lost, expect a move toward the major structure low at 0.1130.
💡Tip: The MACD bullish cross is a positive sign, but bulls must reclaim the 25MA at $0.2664 for a confirmed trend change. Until then, use tight stops.
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