#FET technical analysis!!!
Trend Analysis:
A generally horizontal trend is observed in the graph. The price has been fluctuating within a certain range, but recent movements show an upward trend.
Support and Resistance Points:
Support Points:
There is strong support at the 2.2000 level. When the price approaches this level, buyers usually step in.
There is another support point at 2.0000. This level is one of the previous bottoms and the price usually tends to recover when it falls to this level.
Resistance Points:
There is significant resistance at the 2.4500 level. This level is one of the previous highs and selling pressure usually increases when the price reaches this level.
The 2.7260 level appears as the highest point in the recent period and a strong resistance level.
Long and Short Positions:
Long Position:
It may make sense to take a long position in cases where the price rises above the 2.2000 support level and shows an upward trend.
If the 2.4500 level is broken and sustained above it, a long position can be considered with the expectation that the price may rise further.
Short Position:
It may make sense to take a short position in cases where the price approaches the 2.4500 resistance level and cannot break this level.
If it falls below the 2.2000 support level, a short position can be taken with the expectation that the price may fall further.
Summary:
Strong Support: 2.2000 and 2.0000 levels
Strong Resistance: 2.4500 and 2.7260 levels
Long Position: Above the 2.2000 support level or in case the 2.4500 resistance is broken.
Short Position: Can be opened at levels close to 2.4500 resistance.
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