FET/USDT : Head and Shoulders Pattern Signals Potential 14% Upside

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FET/USDT is currently forming a **bullish head and shoulders pattern**, suggesting a potential rally of **14%** to a target price of **$1.70**. This technical formation indicates a reversal from a bearish trend, with the pattern typically signaling bullish momentum upon completion.

It's important to note that the broader market dynamics will heavily influence this movement. If **Bitcoin** successfully breaks through the **$66,000** resistance level, it is likely that many altcoins, including FET, will follow suit and break their respective resistance levels.

Traders should watch for confirmation of the head and shoulders pattern completion before entering positions.

Conclusion :

The bullish setup for FET suggests promising growth, contingent on Bitcoin's performance.

Advice :

Keep an eye on Bitcoin's price action and consider positioning for a potential breakout. A stop-loss below the pattern's neckline can help manage risk while targeting the anticipated price movement.