#TradingAnalysis101 recent high of $0.558 to a low of $0.421, indicating strong selling pressure.
The Exponential Moving Averages (EMA) show a clear downtrend, with the 9-day EMA at $0.556 and the 21-day EMA at $0.634, confirming bearish momentum. The Relative Strength Index (RSI) stands at 32.96, approaching oversold levels, which could lead to a short-term rebound if buyers step in.
The MACD remains negative, with the signal line below zero, further reinforcing the downtrend. If FET fails to hold the $0.42 support, it may test lower levels. However, if volume increases and RSI recovers, a potential bounce towards $0.50-$0.55 is possible.
Traders should watch for reversal signals before entering long positions. Caution is advised as the trend remains bearish.
