📊 Technical Analysis - FET/USDT (1D)
📉 Overall Trend:
FET is in a downtrend, trading below the key moving averages.
A descending triangle may be forming, which is usually a bearish continuation pattern.
📈 Moving Averages (EMA):
EMA 7: 0.7776 (Immediate Resistance)
EMA 14: 0.8485
EMA 21: 0.9216
EMA 50: 1.1218
EMA 100: 1.2563
EMA 200: 1.3364
🔥 Conclusion: The price is well below these averages, reinforcing the asset's weakness.
📉 Technical Indicators:
📊 Stochastic RSI:
50.77 and 37.78, pointing up → indication of recovery in the short term.
📊 RSI (Relative Strength Index):
31.65, close to the oversold zone. May indicate a rebound soon.
📉 MACD:
MACD negative (-0.0027) and falling, still without confirmation of reversal.
🔍 Important Levels:
Strong support: 0.7385 (if lost, it may fall even further).
Strong resistance: 0.7776 - 0.8485 (needs to break to ease the fall).
Downward target: 0.7385 or even 0.60 if support is lost.
Upward target: 0.8485 - 0.9216, if resistance is broken.
🎯 Possible Scenarios:
📌 Bullish
The price needs to hold support at 0.7385 and break 0.7776 to try to rise.
If it breaks 0.8485, it can seek 0.9216.
📌 Bearish
If it loses 0.7385, it can accelerate the fall to 0.60 - 0.50.
A descending triangle suggests weakness.
📢 Conclusion:
The asset is weak, but at an important support. There may be a rebound in the short term.
MACD has not yet confirmed a reversal, but the Stoch RSI indicates a possible recovery.
If it loses 0.7385, the fall may accelerate!
Recommendation: Watch for resistance breakouts for safer entries.