๐ *FET (Fetch) Update: Consolidation Near Resistance!* ๐โก๏ธ๐
โ
๐ On the 6-hour chart, Fetch is *consolidating near the upper boundary* of a *descending channel* โ this is a key battle zone between bears and bulls ๐ฅ
โ
โ The price is *holding strong above the 50 MA*, which is a positive sign that buyers still have control. But the real test will be clearing the *descending resistance line* to confirm a bullish breakout ๐ง
โ
๐ฏ *IfFET breaks above the channel, hereโs what to watch for:*
- Target 1: 0.71 โ the first resistance level and a nice step up
- Target 2:0.79 โ gaining momentum here could attract more buyers
- Target 3: 0.85 โ solid mid-term goal showing strength
- Target 4:0.91 โ breakout confirmation with potential for further gains
---
๐ก *Why this matters:*
Breaking out of a descending channel after holding above the MA 50 usually signals a *trend reversal* or at least a strong bullish move coming up ๐
---
๐ฎ *Predictions:*
If FET clears that resistance, expect a smooth climb toward those targets. But if it gets rejected, watch for a retest of lower support levels before trying again ๐
โ
๐ฅ *Bottom line:*FET is at a crucial point โ hold above 50 MA + breakout of descending resistance = bullish momentum incoming. Keep an eye on volume and price action for the next big move! ๐๐