$FET is currently navigating a weak downtrend, with a price decline of 2.13% over the last 24 hours and oscillating between a low of $0.671 and a high of $0.703. The Bollinger Bands suggest constrained volatility, indicating a potential consolidation phase within the range of $0.679 to $0.695. With established support at $0.671 and resistance at $0.726, traders might consider short-term strategies to capitalize on price fluctuations. Macroeconomic factors, particularly inflation concerns and regulatory developments, could further impact sentiment, yet Bitcoin's undefined correlation currently limits its influence on FET's movements. The key takeaway is that focused trading strategies in this environment, rather than long-term holds, may better suit the current market dynamics.

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