chart analysis @lunyoner
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Chart Summary – FET/USDT (1W Weekly Chart)
In this weekly chart, a major reversal structure for Fetch.ai (FET) is clearly visible, followed by a breakout after accumulation. There is a structure where the price has aggressively moved outside the descending channel. An upward breakout scenario has been triggered. This breakout is supported by a structure similar to the previous accumulation.
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Targets and Prices
• Main target area (projection box):
• First major target: 1.35 – 1.70 USDT (channel upper band)
• Intermediate targets:
• 0.86
• 1.10
• 1.34
• Main target area upper limit: ~5.38 USDT
(calculated with the projection of the breakout as wide as the channel)
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Support – Resistance Levels
• Supports:
• 0.50 – breakout retest area
• 0.42 – channel lower limit
• 0.36 – accumulation base
• Resistances:
• 0.86 – intermediate psychological resistance
• 1.10 – trend change area
• 1.34 – previous channel upper band
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Indicators
• RSI (1W): Breakout signal from the horizontal zone, strength gain is starting
• MACD (if expected): The signal line may curve upwards
• Volume: The net volume explosion accompanying the “Accumulation” area is remarkable – this is a strong indication that major players are making purchases.
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Formations and Formation Reversals
• Descending Channel Breakout: Major bull scenario
• Accumulation Formation: Wyckoff type structure, rise after low volatility compression
• Breakout structure: Rise starting out of the channel may form a parabolic structure
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4H – 1D – 1W Volume
• 4H: There is an increase in volume with the latest breakout
• 1D: Momentum is accelerating in daily closures
• 1W: Main trend reversal volume supports long-term rise
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Trend Direction
• Short – Medium Term Trend: Upward
• Long Term Trend: A confirmed upward trend may have begun
• Targeted movement after the channel breakout: A strong impulsive wave beginning could follow.
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Road Map
1. 0.42 – 0.50: Retest areas
2. 0.86: First profit-taking level
3. 1.10 – 1.35: Main breakout area
4. Above 1.70: Area where parabolic movement may accelerate
5. 5.38 USDT: Technical projection target (high timeframe target)
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Strategy – Recommendation
• Buying Strategy:
• Current price area: around 0.50
• Alternative: A pullback to the 0.42 area should be monitored
• Stop Area:
• Weekly closure below 0.36 means the structure is breaking down
• Profit Realization (TP):
• TP1: 0.86
• TP2: 1.10
• TP3: 1.34
• TP4 (hold position): 5.00 – 5.38
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Comment
This chart provides a strong breakout signal built on a solid reversal structure and accumulation area in the weekly time frame. In terms of volume and structure, this breakout carries the potential for a repetition of past rises.
Buying on corrections, patient holding within the formation, and a gradual selling structure towards targets would be the right strategy. This structure could herald a parabolic rise.
