FET/USDT Market Analysis & Trade Setup
Chart Overview: Fetch.ai (FET) has completed a five-wave diagonal move to the upside from the April lows, breaking above the April 26 high (~$0.81), indicating bullish strength. However, the structure signals a potential ABC corrective wave before any continued rally.
Key Zones:
Support Zone 1 (Short-term): $0.68 – $0.776
Major Support (Risk Zone): $0.42 (78.6% Fib from April low)
Break below invalidates the current bullish structure.
Trade Setup:
Entry 1 (Aggressive): $0.776 (Upper support range)
Entry 2 (Conservative): $0.69 (Lower end of support)
Take-Profit Targets (Post-Correction Rally):
1. TP1: $0.91
2. TP2: $0.99
3. TP3: $1.09
Stop-Loss:
SL: $0.62 (Below short-term support structure)
Leverage (If Trading Futures): Max 3x recommended due to diagonal/volatile structure.
Outlook: While FET shows potential for further upside after a correction, traders should monitor Bitcoin’s strength closely. Holding above micro support would favor an extended rally.
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