FET/USDT: Signal Update
- If holding:
+ Consider taking partial profits to optimize gains.
+ Take profit target 1: 0.90 USDT.
+ Take profit target 2: 0.93 - 0.94 USDT.
+ Set a stop loss below the 89/150 EMA or important support.
- If not holding:
+ Entry price: Wait for confirmation signals at potential support areas (e.g., 0.81 - 0.82 USDT or significant Fibonacci Retracement levels) or when RSI is in the oversold region with a confirming bullish candle.
+ Take profit 1: 0.90 USDT.
+ Take profit 2: 0.93 - 0.94 USDT.
+ Stop loss: Set below the support level or the low of the confirming buy signal candle.
Quick analysis on the 1H/4H frame:
- FET is in a correction phase after a strong increase, currently the price is near the EMA lines.
- Volume is decreasing during the correction, indicating that selling pressure might be weakening.
- MACD gives a bearish signal or weak upward momentum, but RSI is approaching the oversold region (<30) on the 1-hour chart, signaling a potential recovery.
- Conclusion: FET has the potential for a slight recovery or sideways accumulation before determining a clear trend. Close attention is needed for confirming buy signals at support areas.
No FOMO, always set a stop loss!!!
