💸 $FET /USDT forms a Cup & Handle pattern: High-quality breakout on the horizon
Fetch.ai ($FET ) is currently trading at $0.724 with a daily increase of +3.07%, showing a classic technical setup for the cup and handle pattern, supported by a clear breakout of the moving averages, especially MA200.
📊 Technical Analysis
- The price has broken through the MA20/50/200 group, which is a strong buy signal being monitored by institutions.
- Stability above MA200 represents a high-quality breakout, increasing the likelihood of breaking the handle and launching towards the edge of the cup.
- The RSI indicator is in a positive zone, and momentum is gradually increasing.
📈 Decision Matrix
1️⃣ Daily close above MA200 = Initial buy signal
2️⃣ Breakout of the handle with volume expansion = Momentum confirmation
3️⃣ Break of the edge of the cup with MA20 > MA50 crossover = Follow-up buy
🎯 Price Targets
- TP1 (Fibonacci 100%): +50% from the current price
- TP2 (Fibonacci 161.8%): +100% from the current price
- Stop Loss (SL): Below the previous low
- Risk to Reward Ratio (RR): 3:1
💡 Summary
The Cup & Handle pattern on FET/USDT shows a high-quality technical breakout, with potential targets reaching +100% if momentum continues.
The most suitable strategy? Enter after confirmation, and adhere to risk management.
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