The behavior of the庄 has nothing to do with market sentiment!
Staci Vernon HZYc
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$FET Long Liquidation Alert
Amount: $8.2662K
Price Level: $1.55437
Market Overview
$FET has witnessed a significant liquidation event as a long position worth $8.27K was wiped out at the critical level of $1.55437.
This signals intensified selling pressure and possibly a shift in market sentiment. Let's analyze the key levels and predict the next possible moves.
Key Levels to Watch
1. Immediate Support:
The next major support zone is at $1.50, a psychological level where bulls are expected to defend.
If this level breaks, we could see further downside momentum toward $1.45, the previous accumulation zone.
2. Immediate Resistance:
On the upside, $1.58 - $1.60 serves as the first resistance level.
A breakout above this range may push $FET towards $1.65, where significant selling activity was observed earlier.
Momentum Indicators
RSI: Currently, the RSI is trending downward, suggesting weakening bullish momentum.
However, it is approaching the oversold region, which might attract short-term buyers.
Volume: The spike in liquidation volumes suggests a possible capitulation, but a follow-up decline in volume could indicate stabilization.
What's Next?
Bullish Scenario: If bulls can reclaim $1.60 and sustain above, it may signal recovery and a potential move toward $1.70.
Bearish Scenario: A failure to hold $1.50 could open the doors for a deeper correction toward $1.40 or lower. Watch for increased sell-side pressure in this case.
Strategy Recommendations
For Long Traders: Monitor $1.50 for possible bounce setups, but keep tight stop-losses to avoid further downside.
For Short Traders: Look for rejection signals near $1.58 - $1.60 to ride the downtrend, targeting lower support levels.
This liquidation event marks a pivotal moment for FET.
Whether the bulls or bears take charge from here will depend on the ability to hold critical levels in the coming sessions.
