$FET FET Might Dump Soon โ ๏ธ๐ | Bearish M Pattern Spotted & Momentum Breaking Down ๐๐ป
๐ค FET is flashing warning signs as a bearish M pattern forms on the chart โ a classic double-top signal that often leads to sharp downside moves. ๐๐ซ The market structure looks heavy, and bulls are losing control fast. ๐งฏ๐
๐ RSI is flattening near mid-levels ๐ฏโ, showing a loss of bullish momentum, while the MACD just triggered a bearish crossover ๐๐. This combo points to growing downside pressure and fading strength. ๐ง
๐ป Sell pressure is increasing, and buy volume is declining โ a nasty setup for possible breakdown. Red candles are starting to dominate the chart ๐ฅ๐, and key support at the M-pattern neckline is being tested. โ ๏ธ๐งฑ
๐ On-chain data shows whale distribution rising ๐ฆ๐ค, and exchange balances are up ๐๐ฆ โ suggesting major holders are sending tokens back to CEXs, likely prepping for sell-offs. Not a good look. ๐๐
๐ฑ Social sentiment is cooling down, and wallet growth is slowing ๐ค๐ โ both signs that retail is pulling back as confidence fades. Engagement is dropping across platforms, and the hype is drying up. ๐ง ๐
โณ If neckline support breaks, this M pattern could trigger a larger correction โ possibly sending FET to lower demand zones. Nowโs the time to manage risk, avoid fake bounces, and stay disciplined. ๐โ๏ธ
This isnโt the time to get caught chasing dreams โ the trend is bearish, and smart traders are staying alert.
โ ๏ธ Not financial advice โ always DYOR ๐ง ๐