FET Weekly Chart Targets $4 Before Potential Correction

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FET is showing strong bullish momentum on the daily chart. It’s currently following a traditional series (highlighted in blue), which is expected to help the price reach the weekly profit target of $4 (marked in green). However, traders should prepare for a drastic correction once this target is achieved.

Key Levels :

- **Breakout Potential**: A break above $2 could see the price triple, offering substantial gains in a short period.

- **Profit Target**: $4 is the immediate target based on the technical pattern.

- **Correction Warning**: After reaching $4, a significant correction is anticipated, so risk management is crucial.

Conclusion :

FET is in a strong uptrend, with the potential to hit $4 in the short term. However, a steep correction is likely once this level is reached. Traders should capitalize on the breakout but stay vigilant for any signs of a reversal.

Advice :

- **Watch for the $2 Breakout**: A break above this level could trigger major price movement.

- **Set Profit Targets**: Consider exiting around $4 before the expected correction.

- **Manage Risk**: Keep stop losses in place and be prepared for a sharp price drop after hitting the profit target.