$FET $FET Update: Strong Bullish Breakout or a Trap? 🚀
FET (Fetch.ai) is showing significant strength today, currently trading at $0.2933 with a +4.45% gain. Let’s break down the technicals:
🔍 Technical Insights (1H Chart):
Bullish Trend: The price is riding the upper Bollinger Band, indicating strong upward momentum.
RSI Check: The RSI (10) is currently at 76.27. This suggests the asset is in the Overbought territory. While the trend is strong, a short-term cooling-off period or "pullback" is likely.
MACD: The MACD shows a healthy bullish crossover with rising green histograms, confirming the buying pressure.
📉 Key Levels to Watch:
Resistance: $0.2951. A clean break and hold above this level could push FET toward the $0.30+ zone.
Support: If a correction occurs, look for support at $0.2852 (Middle Band) and $0.2770.
⚠️ Trading Strategy:
Chasing the pump at these RSI levels can be risky for new entries. It might be wiser to wait for a successful retest of the support levels or a breakout above the $0.2950 resistance before jumping in.
What’s your move? Are you Bullish or waiting for a dip? Let’s discuss below! 👇
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